What happened
Fraud prevention startup Verisoul announced it has raised $8.8 million in a Series A funding round, bringing its total capital raised to over $12 million. The round was led by High Alpha, with participation from Lookout Ventures, Bitkraft Ventures, and Future Back Ventures. Verisoul plans to use the funding to accelerate product development, expand go‑to‑market efforts, and hire new talent.
Who is affected
The investment impacts online businesses and platforms facing escalating fraud risks, including those in fintech, gaming, SaaS, social networks, and e‑commerce, where fake accounts, bots, and identity abuse are common threats. Verisoul’s solutions aim to help these organizations detect fraudulent users and automate risk decisions across the entire user lifecycle.
Why CISOs should care
- Fraud sophistication is increasing. AI‑driven bad actors can generate fake accounts and bypass traditional defenses, inflating risk and costs for enterprises. Verisoul’s approach combines real‑time behavior, device, and network signals with AI to label users and transactions as real, suspicious, or fake.
- Identity and account fraud are pervasive threats that erode user trust, inflate fraud losses, and complicate compliance and security operations. A unified prevention platform can reduce dependency on fragmented point tools.
- Verisoul’s leadership, including co‑founder and CEO Henry LeGard, brings domain expertise that resonates with security and fraud prevention strategies at enterprise scale.
3 Practical Actions for CISOs
- Reevaluate fraud detection toolsets to ensure they integrate real‑time signals and AI analytics rather than relying solely on traditional static rules.
- Incorporate identity and device intelligence into risk scoring and account creation workflows to detect multi‑accounting, bots, and spoofed identities earlier.
- Bridge fraud and security operations. Align fraud prevention metrics with security KPIs to bolster enterprise risk visibility.