Forter, a start-up that uses a complex algorithm to help e-commerce sites detect fraud, has raised $32 million.
The Israeli firm, which was founded 3 years ago by former employees of the country's intelligence agency, is trying to tackle the rising problem of online card fraud in a world where it's easy to buy stolen financial details online.
Forter's software takes into account thousands of data points and analyzes user's behaviour as soon as they log on to an e-commerce site. It works using a combination of so-called machine learning and human know-how to recognize fraudulent trends. But because it is automated, the retailer doesn't have to do anything manually.