Earlier this week SBT Venture Capital, the venture arm of Russia’s national savings bank Sberbank, announced that it has invested in IdentityMind Global, a Palo Alto, California-based provider of risk management solutions for e-commerce.
Also participating in the round – the amount of which has not been disclosed – were Benhamou Global Ventures, Cybernaut Venture Capital and Lakewood & Company, the SBT press service told East-West Digital News.
“We sustain the extensive adoption of the IdentityMind Global platform in Europe and beyond,” stated Mircea Mihaescu, Managing Partner at SBT Venture Capital.
“Our excitement lies in their unique and effective approach to applying consumer identification in the analysis of e-commerce transactions to prevent and uncover fraud, regulatory violations, and money laundering. IdentityMind is in an optimal position to address these challenges using their innovative Electronic DNA (eDNA) technology,” he added.
Sberbank launched its corporate venture fund in 2012 to invest in Russian and foreign startups. Among SBT’s portfolio companies is Walkbase, a Finnish publisher of retail analytics solutions which secured a $3 million round in 2013.
This past February, STB’s latest investment went to Mobeewave, a Canadian startup that develops fast and secure NFC mobile payment acceptance services.
