Israeli online data intelligence company EverCompliant has raised $35 million in a Series B financing round led by Red Dot Capital Partners and with the participation of Maor Investments and previous investors Joey Low, Viola Ventures, Arbor Ventures, and American Express Ventures. The company has also rebranded as EverC.
EverC provides of online data intelligence to detect and prevent online money laundering (transaction laundering) as part of its mission to reduce online crime and empower e-commerce growth by leveraging its intelligence capabilities. The company serves banks, credit card companies, payment processors, payment facilitators, online marketplaces, and law enforcement agencies.
EverC was founded by CEO Ron Teicher, CTO Noam Rabinovich, and CTO IL Raz Abramov. The company has 110 employees, 80% of them in Israel and 20% in the US.
Teicher said, "Many types of serious criminal activities are trying to hide behind legitimate-looking facades that are very difficult to track and unmask, digital technology has made it easier for potential fraudsters to hide in plain sight. We believe that light is the best disinfectant and transparency and visibility are critical in doing business in the digital age. EverC aspires to be a source of confidence for organizations who facilitate payments online, providing them the tools, data, and insights needed to navigate risk and capitalize on new opportunities."
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