The fraud detection platform developer will use the funding to expand its sales operations and grow its data science team.
US-based fraud detection software developer Simility has received $17.5m in a funding round led by venture capital firm Accel that included online payment services provider PayPal.
The round also featured VC firms Trinity Ventures, Array Ventures and The Valley Fund, the three investors that invested $1.5m in Simility in June 2016.
Simility’s platform uses machine learning to help companies prevent types of fraud including account takeover fraud, where someone tries to gain access to another person’s account, and account origination…
