Ransomware, viruses, and fraud can all find its way to ones’ computer through email. A Chandler-based startup Emailage is the first in the fraud prevention space to use email to detect risk via email addresses.
“We are providing intelligent risk assessment using an e-mail address as a key element to detect risk,” Rafael Loureiro, the company’s Chief Technology Officer, said. “Using an element like e-mail hasn’t been used before.”
The SaaS technology can be implemented and integrated through an API or into an existing platform.
“We noticed there was a need in the market,” Loureiro said. “[E-mail] is one thing that’s prevalent in all online transactions.”
When a customer provides an e-mail address, the company uses their own database and a network of providers to gather information about the origin of the address and where it’s been used. The e-mail is processed through multiple levels and if an email has been queried in different places, the risk score increases.
“All in all we use 100 different sectors to rate that transaction and score that e-mail address,” Loureiro said.
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In February, Emailage raised $3.8 million in a Series A funding round, and is now looking to hire for multiple engineering positions.
The company currently has more than 200 clients, including three of the top four largest money transfer providers, three top credit issuers and other large financial institutions.
Emailage continues to enhance their engine, and currently working on implementing big data technology which will allow the company to expand analysis and find data patterns.
“We are starting to enter the big data realm,” Loureiro said. Using big data will help the company massively analyze data.
The company currently uses Microsoft technology and the Cassandra database for big data.
READ: Four elements to making big data decisions for your business – video
“When you are doing an online transaction you don’t know much about that person. You don’t always know if they are who they say they are,” Loureiro said. “This allows them to prevent the fraud before it happens.”
The company was founded at the end of 2012 and is currently headquartered in Chandler, Arizona.
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