In its ongoing mission to bankrupt the business of fraud, Arkose Labs reported a record year, tackling fraud and online attacks head-on. The company analyzed more than 15 billion online sessions in 2020, stopped 4.6 billion attacks and wasted 40 million hours of fraudsters’ time.
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Company Growth
Arkose Labs helped its customers navigate disruption and one of the downsides of the pandemic – a growth in online fraud. The company doubled its annual recurring revenue and brought on major brands like Honey, PayPal, CES and Minecraft as new customers across banking, fintech, ecommerce, digital media, gaming and technology.
Fueled by its 2020 series B funding round led by Microsoft’s Venture Fund, M12, with additional investments from PayPal and USVP, Arkose Labs focused on recruiting talent and investing in its technology to facilitate its significant growth.
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The company doubled its headcount in 2020 and opened a UK office. It is committed to additional 2021 hires in North America, Australia and Europe. Key senior leadership hires included Mark Resnick (COO), Martyn McKean (CTO), Phil Steffora (CSO), Patrice Boffa (VP, Services), and Adrian Jenkins (VP, EMEA).
The Arkose Labs Fraud and Abuse Prevention Platform analyzed four times the amount of sessions in 2020 and saw transactions in 200+ countries. Its standout technology was recognized by Gartner, who named it a 2020 Cool Vendor in Fraud and IAM. The platform protects against automated and human-driven account takeover and new account fraud attempts; and an extensive list of abuse use cases such as inventory hoarding, web scraping, in-game abuse, carding, fake reviews and spam by eliminating malicious bot activity across digital platforms.
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