附近上门

AI-powered fraud detection platform locked up a $70 million Series C after nearly doubling its customer base last year.

The new round was led by with participation from , , , , , , and . Founded in 2020, Sardine has raised $145 million, per the company.

The San Francisco-based startup鈥檚 AI-enhanced platform uses device intelligence, behavior biometrics and machine learning to help stop fraud in real time and streamlines compliance. The platform has a suite of AI agents designed to automate fraud and compliance operations and cut costs.

In addition to growing its customer base, the company said it also grew annual recurring revenue 130% last year.

“Risk teams are stretched to their limits, and the workload keeps growing,鈥� said , CEO of Sardine. 鈥淎lert volumes have surged 800%, compliance hiring can鈥檛 keep up, and analysts are stuck in an endless cycle of manual reviews 鈥� Sardine鈥檚 AI agents automate the most time-consuming parts of risk operations, helping teams move faster, reduce false positives, and focus on stopping real threats.鈥�

Not focused on fraud

Despite the headlines fraud garners, investors have not poured money into fraud detection startups. In fact, Sardine鈥檚 raise is the largest in the sector since Austin, Texas-based , which protects digital identities, closed a $110 million growth round of primary and secondary capital led by in August 2023.

Venture funding actually dipped significantly in the space last year, with only $336 million going to fraud detection startups, per 附近上门 . That dollar total was almost a 50% drop from the $620 million invested in 2023.

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