Online fraud costs people and organizations billions of dollars each year — with one aspect alone, identity fraud, a $16.9 billion problem in 2019, says Javelin Research, and each dollar of spend online estimated to cost $3.13 in fraud recovery, according to LexisNexis Risk Solutions. Today, a startup that’s built a platform to identify and prevent fraud across a range of e-commerce-related cases is announcing a large round of growth funding to help bring those numbers down.

NS8, a Las Vegas-based startup that provides tools to prevent fraud within e-commerce marketplaces, online merchants, payments gateways and ticketing services, has raised $123 million in venture funding, money that it plans to use to expand its technology and product stacks and to continue expanding the network of partners

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