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Funds injection into fighting card fraud.

FraudSciences : 11 October, 2007  (Company News)
Transaction verification and analysis of fraud by Fraudsciences to receive development funding.
FraudSciences has closed its Series B round of venture funding totaling
$11 million. Leading the investment round is Redpoint Ventures with BRM Capital continuing its funding support for FraudSciences, as well. This latest capital infusion will provide FraudSciences with the financial resources required for late stage development and rapid, ubiquitous deployment of its fraud analytics and
transaction verification managed service that guarantees merchant revenue
against fraud losses.

"We were attracted to FraudSciences because of its exceptional management
team, robust technology platform, business model and strategic vision," said
Jeff Brody of Redpoint Ventures. "With an aggressive go-to-market strategy
already in motion, FraudSciences represents the type of technology company
that will enable all levels of online merchants to confidently expand their
markets and continue to grab retail market share."

FraudSciences offers e-merchants managed fraud analytics technology with a
full order value guarantee against all fraud-related charge backs. The
technology has been thoroughly tested in over 150,000 online transactions
with 99.99 percent performance accuracy, and less than 0.01 percent of
transactions approved incur any fraud-related charge back fees.
FraudSciences enables more online buyers to pay by credit card by verifying
their identity faster and with more accuracy, thereby saving merchants from
early customer abandonment and saving customers from the insult of invalid
order rejection.

"FraudSciences represents an opportunity to expand both the markets served
and payment options offered by online merchants," said Eli Barkat of BRM
Capital. "Online merchants seeking to recognize new revenue streams through
aggressive market expansion are now able to move confidently to provide
customers with credible assurances that the Internet is a secure marketplace
for shopping. FraudSciences is building a strategy that spells success for
everyone involved, including merchants, payment processors and consumers,
which is why we are so pleased to be an investor in the company. This
technology has legs that can be built on for many security applications."

"This new round of funding will enable us to exploit a new technology
together with an existing ecosystem to rapidly enable our merchant customers
to boldly enter new markets, without fear of fraud," said Gadi Maier, CEO
and President of FraudSciences. "Having top tier investors validates the
significance of our vision."
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