September 26, 2018 / 2:06 PM / 8 months ago

Fraud prevention firm Forter raises $50 million

TEL AVIV, Sept 26 (Reuters) - E-commerce fraud prevention firm Forter said on Wednesday it raised $50 million in a funding round led by California-based venture capital firm March Capital Partners with participation from Salesforce Ventures.

Previous investors Sequoia Capital, New Enterprise Associates and Scale Venture Partners also participated in the round, which brings Forter's total financing to $100 million since its founding in 2013.

Forter, which was founded by three former Israeli military intelligence officers and has a research and development centre in Tel Aviv, said it processes more than $50 billion of transactions annually.

Michael Reitblat, Forter co-founder and CEO, said the company plans to double its investment in R&D and expand its global coverage. (Reporting by Tova Cohen; Editing by Ori Lewis)

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