Managed Services

Spec seeks to bolster fraud detection with new $15M funding

SecurityWeek reports that California-based fraud detection and defense startup Spec has pulled in $15 million from a Series A funding round, bringing total investment to over $29 million, with the newly secured funds to be allocated toward bolstering its no-code orchestration platform and threat labs, as well as strengthening its specialized fraud prevention system collaborations. Sophisticated intrusions, including artificial intelligence-based attacks, were noted to be prevented by Spec's platform, which performs user session scans to facilitate real-time attack response. Organizations could also easily integrate Spec's solution into their fraud, customer experience, and e-commerce apps to facilitate immediate vulnerability discovery and remediation, curb reverse engineering, and bolster defenses, according to Spec. "As we look ahead, our commitment to serving enterprises in retail, ticketing, and marketplaces remains stronger than ever. This funding accelerates our efforts to deliver unparalleled security solutions for these amazing businesses," noted Spec co-founder and CEO Nate Kharri.

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