Venture capital firm Nexus Venture Partners, which bets on startups both in India and the US, has led a Series C funding round for Chicago-based device intelligence platform Fingerprint.
The $33-million (around Rs 274.7 crore) round also saw participation from Uncorrelated Ventures.
Fingerprint will use the fresh money to scale-up adoption within larger enterprise customers, build its technology stack and improve product capabilities.
In 2021, Fingerprint raised $32 million in its series B funding round. The round was led by Craft Ventures and saw participation from Nexus Venture Partners and Uncorrelated Ventures.
Till date, the company has raised $77 million in total fundraise.
Founded in 2019, Fingerprint is a device intelligence platform that enables companies to prevent fraud and improve user experiences. Fingerprint processes almost 100 signals from the browser, device, and network to generate a stable and persistent unique visitor identifier that can be used to understand visitor behavior.
Fingerprint aids developers in building device identification with flexible application programming interfaces (APIs) capable of identifying fraudsters while ensuring low-friction experiences for users.
"Fingerprint solves the challenge of sophisticated attacks from online fraudsters for companies by enabling accurate device identification and providing additional signals to inform visitor intent without inconveniencing legitimate users," said Dan Pinto, co-founder and chief executive officer, Fingerprint.
It claims to be working with around 6,000 companies worldwide. In terms of its presence in India, the company counts enterprises like Tata Digital, Zee5, Junglee, and Park+ amongst others as part of its client portfolio.
“Fingerprint’s device intelligence API helps high-scale websites and apps prevent fraudulent transactions. The company has commercially grown 20x over the past three years. It has a product-market fit, from small businesses to large public companies,” said Abhishek Sharma, managing director, Nexus Venture Partners.
Nexus Ventures was founded by Naren Gupta, Suvir Sujan and Sandeep Singhal in 2006. The VC firm, which had bet on companies like Snapdeal, Delhivery, Hasura and WhiteHatJr, closed its seventh venture capital fund focused on India and the US after raising $700 million, at the start of the year.
The new fund, Nexus Ventures VII, will back entrepreneurs building disruptive companies across AI, SaaS, fintech and commerce.
Previously, for its first fund, it had raised about $100 million. Its second fund had a corpus of about $220 million. For its third fund, the VC firm raised $270 million in 2012.
It floated its fifth fund to raise $450 million and received commitments of about $350 million by May 2019.