# Rippleshot

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rippleshot

- Industry: Software
- Headquarters: Chicago, US
- Website: www.rippleshot.com
- Total disclosed funding: $3.6M
- Latest round: Seed (Feb 8, 2017)
- Investors on record: 6

## About

Rippleshot, Inc. is a technology firm focused on providing advanced fraud detection and prevention solutions tailored for financial institutions, utilizing AI and machine learning to enhance security and customer service.Founded in 2013 in Chicago, US, Rippleshot specializes in fraud detection for financial institutions. The company was co-founded by Canh Tran and Yueyu Fu. Rippleshot has successfully completed 6 deals, with its most recent funding round, a VENTURE DEBT of USD 1.5 mn, occurring on August 10, 2018, led by SixThirty. The total amount raised by the company stands at USD 2.76 mn.Rippleshot specializes in advanced fraud detection and prevention solutions for financial institutions, leveraging artificial intelligence and machine learning capabilities. The core offering, a cloud-based Software as a Service (SaaS) platform, provides tools that enable banks and credit unions to proactively manage and mitigate the risk of card fraud. Key functionalities include predictive analytics that identify potential fraud threats and analytics tools that assist institutions in understanding and responding to merchant data breaches. By empowering financial organizations to access and analyze their own data, Rippleshot helps enhance their fraud response strategies and improve customer service outcomes. The company's solutions are tailored for a diverse client base, ranging from small community banks to large financial institutions, and are deployed across various geographical markets, including North America and Europe.Rippleshot generates revenue primarily through subscription-based models for its SaaS platform, tailored to the needs of its financial institution clients. Clients typically engage in annual contracts that provide access to the suite of fraud prevention tools, which includes flagship products such as Rules Assist and Sonar. These products facilitate real-time analytics and risk assessment, ensuring efficient management of cardholder security. The pricing structure is designed to accommodate varying sizes of financial institutions, which allows for scalable solutions that align with their operational needs. Partnerships with clients are fostered through ongoing support and updates, reinforcing the platform's value as a critical resource in a rapidly changing financial landscape.In August 2018, Rippleshot, Inc. raised USD 1.5 mn in VENTURE DEBT funding from returning investor SixThirty, with participation from unspecified investors. The company plans to utilize this funding to enhance its product offerings and expand into new geographic markets. Specific targets for expansion include Europe and Asia by the end of 2023, with a focus on introducing innovative fraud detection features that will strengthen the security measures of its clients.

## Funding rounds

- Seed, Feb 8, 2017, $2.8M — Method Capital, CMFG Ventures
- Seed, Jun 1, 2014, $0.8M — KGC Capital, SixThirty, Wintrust Financial Corporation, UMB Bank

## Investors

- KGC Capital (https://capitalatlas.ai/funds/kgc-capital) — Seed
- SixThirty (https://capitalatlas.ai/funds/sixthirty) — Seed
- Wintrust Financial Corporation — Seed
- UMB Bank — Seed
- Method Capital (https://capitalatlas.ai/funds/method-capital) — Seed
- CMFG Ventures — Seed