The wave of Israeli startup exits continues. Analyzd, a startup started by two brothers in a garage, developing fraud detection algorithms for e-commerce sites, has been acquired by Swedish company Klarna for an undisclosed sum estimated at tens of millions of Dollars. Analyzd is less than one year old and completely self-funded by the Samet brothers, Ohad and Yuval.
According to the Analyzd website, the company operates as a custom-made consulting practice in the field of online payments, fraud detection, risk management and business intelligence, using the constant stream of data received by the site. The impact of this technology is behavioral profiling of online shoppers and better decision making tools:
Transform the way you make decisions about fraud, payments and business with us, and see huge impact to your losses, false positives and bottom line. We start with a basic assessment of your current system and the gaps in it. Our projects vary from monitoring and dashboard design, through rule-set optimization to starting whole risk departments. Make sure you seed your internal organization with the top-notch experience and knowledge we bring with us.
Amongst Analyzd clients is online payments startup Square, which makes each iPhone/iPad into a mobile point of sale (POS) system. Ohad Samet is regarded as an international expert in risk management and will become Klarna’s main man in that space. He was previously the head of R&D for Fraud Sciences, which was sold to eBay/Paypal for over $160 million in 2008, after proving the strength of their technology over the course of a weekend (the story is brought in detail in the excellent Startup Nation book).
Klarna provides credit over the Internet. It’s considered one of Sequoia’s top investments in Europe. In 2010, Klarna reported $54 million in revenue, and amongst its board members are Mike Moritz, partner in Sequoia and one of the main investors in Google and Yahoo. Klarna raised $8.5 million euro to date.
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