IDG Capital Partners has backed a Qiming Venture Partners-led series B round for the internet security company, bringing its total funding to more than $41m.
China-based internet security company FraudMetrix has closed a $30m series B round backed by IDG Capital Partners, a venture capital affiliate of IT media company International Data Group, China Money Network reported yesterday.
Qiming Venture Partners, a VC firm that raised a $500m fund from investors including medical practice Mayo Clinic and numerous universities in April 2014, led the round. China Broadband Capital, China Growth Capital and Linear Venture also participated.
FraudMetrix’s software provides protection against various forms of fraud facing consumers online, including transaction, business and credit fraud. The company’s technology has been implemented by banks, payment processing service providers and e-commerce companies.
IDG invested in a $1.6m seed round raised by FraudMetrix in 2013 that also featured China Growth Capital, returning in August 2014 to back a $10m series A round led by Broadband that also included Linear.
This article first appeared on Global Corporate Venturing.
