# Spec

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

- Industry: IT Security/Cybersecurity
- Headquarters: San Jose, US
- Website: www.specprotected.com
- Total disclosed funding: $19M
- Latest round: Series A (Aug 23, 2023)
- Investors on record: 5

## About

SpecTrust, Inc., based in San Jose, US, provides advanced fraud prevention solutions designed to secure customer transactions across multiple platforms, enhancing security for clients in various sectors.Founded in 2020, SpecTrust, Inc. specializes in fraud detection and prevention solutions. The company has successfully raised a total of USD 15.00 mn in its latest funding round, Series A, led by SignalFire, with other investors including Legion Capital Partners, LLC and Rally Ventures. SpecTrust has completed four deals, with the most recent in August 2023. The founders, Nate Kharrl and Patrick Chen, have extensive backgrounds in technology and entrepreneurship, contributing to the company's innovative approach to security.SpecTrust, Inc. offers a comprehensive suite of fraud prevention solutions that secures customer journeys by utilizing proprietary Journey Data™. This technology aggregates user behavior across multiple touchpoints to detect and mitigate fraud such as account takeovers, chargebacks, and card testing. The platform delivers actionable insights to businesses, ensuring a seamless experience for legitimate users while adapting to evolving threats. SpecTrust primarily targets clients in North America, Europe, and Asia, serving sectors that demand high transactional security, including crowdfunding platforms and global marketplaces.SpecTrust generates revenue through a subscription-based model, allowing clients access to its fraud detection and prevention services. The pricing is tiered, accommodating different business sizes and needs, which enables clients to select packages that best suit their security requirements. The flagship product emphasizes adaptive defenses leveraging behavioral modeling and identity graphs to ensure accurate fraud detection. Major corporations in the entertainment and e-commerce sectors are among SpecTrust's clients, partnering to minimize fraud-related losses and enhance transaction volumes.In August 2023, SpecTrust, Inc. raised USD 15 mn in Series A funding to bolster its research and development capabilities and enhance its threat labs. This investment will facilitate the development of specialized products aimed at improving fraud detection and prevention. The company aims to expand its market presence in Europe and Asia by the end of 2024, aligning its growth strategy with the increasing demand for robust transactional security solutions.

## Funding rounds

- Series A, Aug 23, 2023, $15M — Rally Ventures, SignalFire, Legion Capital Partners, LLC
- Seed, Apr 1, 2021, $4.3M — DreamIt Ventures, Rally Ventures, SignalFire, Cyber Mentor Fund, Legion Capital Partners, LLC

## Investors

- DreamIt Ventures (https://capitalatlas.ai/funds/dreamit-ventures) — Seed
- Rally Ventures (https://capitalatlas.ai/funds/rally-ventures) — Seed, Series A
- SignalFire (https://capitalatlas.ai/funds/signalfire) — Seed, Series A
- Cyber Mentor Fund (https://capitalatlas.ai/funds/cyber-mentor-fund) — Seed
- Legion Capital Partners, LLC — Seed, Series A