Tech Funding Recap for March

With spring right around the corner, you can bet there are plenty of companies ready to launch and update their tech products, and they are getting the funding they need to do so. Recently, companies like Forter, Aclima, and Pllay are expected to move the world of tech forward in innovative ways. Here is a recap of what you should be looking out for in the coming season.

Forter

The pandemic saw an unprecedented rise in the ecommerce industry, and plenty of incidents of fraud came along with it. Forter is a fraud detection platform meeting the demands in keeping people’s personal information safe.

Forter works with banks, online payment platforms and merchants to detect and prevent fraudulent transactions including identity theft, account takeover, credit card fraud. When a customer arrives on a website, the company tracks their behavior and uses an analytics engine to determine their intent when making a purchase. Then the system decides whether to flag the behavior as potentially fraudulent.

The increase in ecommerce along with the need for fraud detection has caused Forter’s revenue to double in the past year. As a result, they also doubled their employee count and now hire 225 employees across eight offices. They recently raised $125 million in a series E round that values the company at over $1.3 billion.

Aclima

Pollution and the damage it causes our environment has been a major concern for many years. Aclima is doing their part introducing systems that measure pollution on a block by block level and using that data to combat climate change.

Aclima, one of the few tech companies owned by a woman of color, measures pollution on a hyperlocal level in an effort to reduce emissions. They work with Google StreetView putting sensors on StreetView electric cars as they drive around cities to get a block view of pollution levels. This enables them to reach people in a variety of areas implementing a low friction approach.

The company has been successful in determining the extent of air damage the recent wildfires in the Bay Area caused to provide the government with hot spots and sources. When airs cleared in San Diego during the pandemic, they were able to measure pollution which was still concentrated in lower income neighborhoods. Aclima recently raised $40 million to further this technology.

Pllay

The gaming industry seems to get bigger every year. Pllay is at the forefront introducing a skill-based video game wagering platform that enables gamers to wage 1-on-1 duels in their favorite games.

The peer-to-peer wagering platform is designed for mobile phones and allows players to wager on matches played on other platforms. It is not considered gambling because it does not have purely random results and it is now legal in 39 states. The platform targets people who are 18 and over and runs checks on people before they put money in the system.

One challenge the company faced is figuring out how to verify who won in a 1-on-1 duel. They found a solution involving monitoring matches on Twitch with AI. After the money is held in escrow, it is paid out as soon as verification is complete.

Pllay recently raised $3 million in funding which will be used to hire new employees, develop tech, improve the user experience and increase user acquisition.