Thursday, November 8, 2007

iovation Secures $15M in Venture Funding

iovation, a Portland, Ore.-based developer of online fraud protection software, has received $15 million in venture financing, one of the funding firms announced Thursday. Intel Capital, the investment arm of semiconductor manufacturer Intel, said it led the effort with a $10 million contribution. iovation will use the money, Intel noted, to quicken the development and delivery of its next-generation fraud and abuse prevention applications. Intel said the company will also use the money to broaden its intellectual property portfolio. iovation's real-time fraud prevention service helps businesses reduce the risk of charge-backs, identity theft, phishing and other abuses. More information »