Deep Labs Secures $16 million Funding
Deep Labs' platform allows clients to deliver better customer experiences, maximizing revenue while maintaining acceptable risk levels, and reducing genuine fraud. Clients and partners, ranging from leading financial companies, firms, and governments to retailers, depend on Deep Labs' products
FREMONT, CA: Deep Labs, an industry leader in leveraging artificial intelligence and the creator of patented persona-based, context-aware decisions, and risk system closed the initial tranche of a $16 million commitment from a group of leading financial technology investors.
The investor team comprises of high recommendations and includes highly experienced financial services executives. The round was led by Gunnar Overstrom, Corsair Capital, Serendipity Capital, and Gramercy Ventures. Along with the investment, Overstrom and the Founding Partner of Serendipity Capital, Robert Jesudason, have been welcomed to the board of Directors.
Deep Labs was founded by Chief Executive Officer Dr. Scott Edington in 2016, along with experienced digital payments and signal experts. They deployed a suite of proprietary solutions and tools for the authentication and authorization of the transaction. The company is widely known for its ability to leverage persona-based intelligence to enhance the businesses and safely integrate customer behavior into their operations, maximizing authenticity, accuracy, and reducing susceptibility to cybercrime.
"We are pleased to welcome such a high-caliber group of investors as we expand Deep Labs, add new customers and partners around the world, and continue to hire the best and brightest engineers and professionals," said Dr. Edington. "Our new investors have a true understanding of our business, our goals, and our long-term strategy, and we look forward to benefitting from their unique expertise and experience."
Dr. Edington continued, "We built Deep Labs intending to move the world of decisions from a static, one-dimensional process to a multi-dimensional one that uses the most modern computing and mathematical methods available. With next-generation, persona-based intelligence that leverages true context-aware computing, our innovative products represent a new way for businesses and their customers to understand how an actor's behavior changes as it moves through time and space. I believe we have the team, the technology, and the financial and strategic support to redefine authentication and authorization."
Deep Labs' platform allows clients to deliver better customer experiences, maximizing revenue while maintaining acceptable risk levels, and reducing genuine fraud. Clients and partners, ranging from leading financial companies, firms, and governments to retailers, depend on Deep Labs' products. The company's customers include global payments networks Visa and American Express, authentication leaders such as Clear, and the U.S. Government. Mastercard, Booz Allen Hamilton, NICE Actimize, and General Dynamics Information Technology are among the company's partners.
"Deep Labs is a critical partner for Mastercard, particularly as we focus on enabling hyper-personalized services for citizens around the world," said Miguel GamiÃ±o Jr., Executive Vice President for Global Cities at Mastercard. "By bringing together Deep Labs' unique technology with our platforms, we can enhance our offering and provide greater access to city services, identification, disbursements, and secure payment capabilities. We are excited to continue our collaboration with the Deep Labs team."