Bolster, Inc., a California startup company, has raised USD 15 million in venture capital funding to create a platform for businesses to prevent fraud.
The early-stage funding round was led by Cervin, Liberty Global Ventures, and Cheyenne Ventures with participation from previous investors Thomvest Ventures and Crosslink Capital. Bolster has so far raised approximately USD 40 million to build technology to automate the discovery of online fraud and counterfeit activity targeting global brands. The business and its investors wager that the automated digital risk protection market will be profitable.
In comparison to other methods, Bolster claims its tools can be used to quickly and cheaply identify, track, and eliminate online fraudsters.