Fingerprint raises $33M to accelerate enterprise device intelligence and fraud prevention adoption

Device intelligence platform Fingerprint recently said it has raised $33 million in a Series C funding round led by Nexus Venture Partners and with participation from Uncorrelated Ventures. The current round takes Fingerprint's total funding to $77 million.

What does Fingerprint do?

Fingerprint aids developers in building device identification with flexible APIs capable of identifying fraudsters while ensuring low-friction experiences for trusted users. The Fingerprint platform leads with best-in-class accuracy, identifying 99.5% of returning users in less than 500 milliseconds of processing time.

"With the gradual death of cookies and proliferation of VPNs, high accuracy device identification has never been more important. Companies battle sophisticated attacks from online fraudsters while needing to ensure their trusted customers have a frictionless experience," said Dan Pinto, Fingerprint's co-founder and CEO.

He further said the company solves this challenge for thousands of companies by enabling accurate device identification and providing additional signals to inform visitor intent without inconveniencing legitimate users.

Fingerprint witnessing significant growth

Since its last round of funding in 2021, Fingerprint claims to have witnessed significant growth stemming from its ease of integration, instant value for new customers via API and extensive documentation. 

Industry leaders like Dropbox trust Fingerprint to detect and block account takeover attempts, while Neiman Marcus relies on the same technology to create personalized experiences for its most valued customers, the release notes.

"Fingerprint is becoming a modern utility for the internet economy to combat fraud," said Abhishek Sharma, Managing Director of Nexus Venture Partners. "Any business that processes online transactions or payments should use Fingerprint. Its device intelligence API helps high-scale websites and apps prevent fraudulent transactions. We're impressed by the product's ability to deliver 10x+ ROI for its customers consistently. We love Fingerprint's developer-focused go-to-market approach coupled with its ubiquitous open-source library, FingerprintJS.

According to Abhishekh, The company has commercially grown 20x over the past three years and has a resounding product-market fit, from small businesses to large public companies.

Redefining device identification

Unlike other device identification methods, Fingerprint said it offers a persistent visitor identifier that retains its accuracy, even amidst browser updates. The company said the comprehensive user insight, regardless of their login status or identity concealment methods, empowers companies to refine fraud detection and user experiences.

Fingerprint's adaptability is evident across various sectors, from safeguarding login pages to fortifying paywalls, the company added.

Fingerprint allows developers to get started with popular third-party integrations such as Cloudflare, Segment, CloudFront and many more. Additionally, The company partners with software vendors, including Dodgeball, Okta and Spec, to generate additional value for customers and increase customer retention.

What is the purpose of fundraising?

With this round of funding, The company will focus on accelerating adoption within larger Enterprise customers, which have been a critical driver of the company's recent growth. Furthermore, It aims to build new tools and capabilities to tackle the most complex challenges in device identification.