- Deep Labs, a leader in AI and the creator of patented persona-based context-aware decisioning and risk systems, announced it raised $16 million
Deep Labs, a leader in AI and the creator of patented persona-based context-aware decisioning and risk systems, announced it closed the initial tranche of a $16 million commitment from a group of leading financial technology experts. The investor group was led by Gunnar Overstrom (Partner at Corsair Capital), Serendipity Capital, and Gramercy Ventures. And in connection with the investment, Overstrom and the Founding Partner of Serendipity Capital Robert Jesudason have joined the Board of Directors.
Founded in 2016 by CEO Dr. Scott Edington, Deep Labs deploys a suite of proprietary solutions for transaction authentication and authorization.
And the company is best known for utilizing the power of persona-based intelligence to improve businesses’ ability to safely integrate customer behavior into their operations, increasing authentication accuracy, and reducing susceptibility to cybercrime.
Deep Labs’ platform enables clients to deliver better customer experiences and increase revenue while maintaining acceptable risk levels and reducing true fraud. And clients and partners range from leading financial services firms, governments, and retailers. Some of the company’s early customers include global payments networks Visa and American Express, authentication leaders like Clear, and the U.S. government. Mastercard, NICE Actimize, Booz Allen Hamilton, and General Dynamics Information Technology are some of the company’s partners.
Key Quotes:
“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. 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.”
“We built Deep Labs with the objective of moving the world of decisioning 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.”
-Dr. Edington
“Deep Labs is a critical partner for Mastercard, particularly as we focus on enabling hyper-personalized services for citizens around the world. By bringing together Deep Labs’ unique technology with our platforms, we are able to 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.”
-Miguel Gamiño Jr., Executive Vice President for Global Cities at Mastercard
