On April 22, 2021, fraud prevention platform Sift announced a $50 million funding round that values the company at more than $1 billion. The financing was led by global venture capital and private equity firm Insight Partners, with participation from Union Square Ventures and Stripes. The new funding will be used to continue expanding the company’s product portfolio and to scale its product, engineering, and sales teams globally.

“Legacy, rules-based approaches to fighting fraud can’t defend against the sophisticated fraud economy that has dramatically expanded and evolved in parallel with digital commerce over the last year,” said Marc Olesen, president and CEO at Sift. “With this new investment we can continue to build out our Digital Trust & Safety platform to help merchants not only fight all types of fraud and abuse, but reduce friction for legitimate customers and grow revenue.”

A Wilson Sonsini Goodrich & Rosati team including Yoichiro Taku, Leslie Stolper, and Claudia Burr advised Sift on the transaction.

For more information, please see Sift's press release, or further coverage at TechCrunch.