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Simility has raised $21.0M across 2 funding rounds.
Simility has raised $21.0M in total across 2 funding rounds.
Simility is a cloud-based fraud detection and prevention platform, now operating as a PayPal service, that provides real-time risk decisioning for global businesses.[1][3] It builds an Adaptive Decisioning Platform leveraging AI, machine learning, big data analytics, and device fingerprinting to analyze millions of transactions daily, flagging suspicious activities like account takeovers, stolen credit cards, fake reviews, and promotional abuse.[1][3][4] Simility serves enterprises in financial services, payment processors, commerce merchants, startups, SMBs, mid-market, and large organizations, solving complex fraud problems by reducing friction, enhancing trust, and enabling customizable rules for anomaly detection and behavioral analytics.[1][2][3] Its growth is supported by PayPal's backing, positioning it as a trusted solution with strong adoption among leading consumer brands.[1][5]
Simility emerged from Silicon Valley as a specialized fraud detection company, built by industry veterans focusing on real-time risk solutions in the computer and network security space.[1][4] It launched its service leveraging technologies like the open-source Cassandra NoSQL database for rapid fraud decisions, addressing the need for scalable analytics in high-volume transaction environments.[6] A pivotal moment came with its integration as a PayPal service, combining Simility's industry-leading tech with PayPal's vast digital payments expertise and global trust, enhancing its credibility and reach.[1][5] Early traction built on combining device reconnaissance—analyzing hundreds of device signals like browser, OS, and location—with machine learning for fraud profiles, quickly gaining favor in finance and e-commerce.[4]
Simility stands out in fraud prevention through these key strengths:
Simility rides the surge in digital payments and e-commerce fraud, where rising account takeovers and synthetic identities demand real-time, AI-driven defenses amid exploding transaction volumes.[1][3] Its timing aligns with post-pandemic market forces like expanded online commerce and regulatory pressures for robust risk management in fintech, making adaptive platforms essential for trust in global ecosystems.[2][5] By enabling frictionless experiences for legitimate users while neutralizing threats, Simility influences the ecosystem through PayPal's network, empowering merchants and processors to scale securely and setting benchmarks for hybrid human-AI fraud analytics.[1][4][6]
Simility's PayPal integration positions it for accelerated dominance in AI-powered fraud prevention, with expansions likely in emerging areas like crypto transactions and AI-generated deepfake fraud. Trends such as zero-trust architectures and predictive ML will amplify its edge, potentially evolving it into a full-spectrum risk orchestration leader. As digital economies grow, Simility will shape secure innovation, tying back to its core strength: turning vast data into actionable trust for businesses worldwide.[1][5]
Simility has raised $21.0M in total across 2 funding rounds.
Simility's investors include Accel, Insight Partners, Sequoia Capital, Array Ventures, Bling Capital, Khosla Ventures, Summit Partners, Chung Ng, Greg Kidd.
Simility has raised $21.0M across 2 funding rounds. Most recently, it raised $18.0M Series B in December 2017.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2017 | $18.0M Series B | Accel, Insight Partners, Sequoia Capital | |
| Aug 1, 2015 | $3.0M Seed | Accel, Array Ventures, Bling Capital, Insight Partners, Khosla Ventures, Sequoia Capital, Summit Partners, Chung Ng, Greg Kidd |
