October 18, 2022

Digital risk protection startup Bolster raises $15M to fuel growth

Digital risk protection startup Bolster Inc. revealed today that it has raised $15 million in new funding to fuel company growth.

Cervin, Liberty Global Ventures and Cheyenne Ventures led the extended Series A round, with Thomvest Ventures and Crosslink Capital also participating. Including the new funding, Bolster has raised $32 million to date, according to data from Crunchbase.

Founded in 2017, Bolster offers a deep learning-powered fraud prevention platform designed to protect leading brands from fraud. The company’s Automated Digital Risk Platform detects, monitors and takes down online fraudsters across the web, social media, app stores and the shady corner of the internet known as the dark web.

Boslters’ platform starts with automated monitoring across domains, websites and app stores. Artificial intelligence-based out-of-the-box detection then identifies phishing, brand infringement, scams and typosquatters. The final step is automatic triage and remediation, neutralizing threats without human intervention.

The platform scans more than 2 million URLs daily, with more than 3,000 top-level domains monitored. Phishing detection verdicts are delivered at under 100 milliseconds with a one-in-100,000 false-positive rate. The average time to takedown is two minutes, with 95% of threats detected not needing manual intervention. Read rest here