Sift Celebrates a Decade of Digital Trust & Safety with Awards, Funding, and the Acquisition of Chargeback
By Sift /
19 May 2021
This June, Sift celebrates a decade of championing trust on the internet and cementing our position as the leader in Digital Trust & Safety. In this time, we’ve evolved from a two-person startup to an industry-leading business with hundreds of employees—exemplifying what 10 years of teamwork, innovation, and perseverance can achieve. And it’s no coincidence that this year we celebrate even more accomplishments. We’re thrilled to welcome Chargeback to the Sift team, win Best Antifraud Solution for Case Management at the CNP Awards, be named one of Inc. Magazine’s Best Workplaces for 2021, and raise $50 million at a valuation of over $1 billion.
Sift acquires Chargeback to provide complete protection against payment fraud
This May, we were proud to share that Sift has acquired Chargeback, the pioneer in real-time dispute management for merchants, bringing us closer to stopping payment fraud entirely and helping our customers grow their businesses while providing exceptional customer experiences. With this move, merchants will gain access to Sift’s comprehensive Digital Trust & Safety Suite that addresses risk before, during, and after user transactions.
Whether it’s “friendly” fraud or one of the countless other fraud types that exist in the interconnected Fraud Economy, the addition of Chargeback’s team, technology, and partners enables us to give merchants enhanced tools and expanded strategies to fight all types of fraud and abuse while increasing revenue at every step of the customer journey.
“Preventing chargeback fraud is the critical ‘last mile’ of stopping payment fraud entirely,” said Marc Olesen, President & CEO of Sift. “With the addition of Chargeback’s team, technology, and partners, our customers gain a true hub for fighting all types of fraud and abuse while creating a more seamless experience. We’re excited to continue working together as we help our customers implement their Digital Trust & Safety strategies.”
“As a longtime Sift partner, we’ve seen how effective full fraud coverage has been for joint customers using Chargeback’s integration with Sift,” said John Munro, CEO of Chargeback. “Now, as one company, we have an incredible opportunity to provide a single solution to merchants so they grow with less risk.”
Read more about the acquisition.
Sift wins CNP 2021’s Judge’s Choice for Best Antifraud Solution—Case Management
Card Not Present recently revealed the full list of 2021’s CNP Awards winners, honoring 20 high-performing companies in the card-not-present space across 14 categories. During a year that put technology providers to the ultimate test of agility and innovation, Sift was named Judge’s Choice for Best Antifraud Solution—Case Management.
COVID-19’s snowballing disruption across e-commerce revealed the true depth and breadth of the Fraud Economy—the global, interconnected web of cybercriminals and abuse vectors now looming over the internet. Sift’s global network and real-time machine learning protect businesses against this ever-shifting threat with unmatched accuracy and insights, streamlining the customer journey and leaving the road clear for growth.
“It’s an honor to be Judge’s Choice this year,” says Kevin Lee, lead Trust and Safety Architect at Sift. “Especially in the face of so many unique global challenges. It’s a true testament to our dedication and determination at Sift to build an internet that everyone can trust.”
Read more about the award.
Sift is named one of Inc.’s Best Workplaces for 2021
Every year, Inc. Magazine recognizes the top American companies that have created exceptional workplaces and company culture. Out of thousands of submissions, Sift has been named among Inc.’s Best Workplaces for 2021, one of 429 honorees this year. We’re proud to rank among the highest-scoring businesses in the prominent Inc.com feature, especially in the midst of such turbulent times and evolving workplace dynamics.
Each nominated company took part in an employee survey, conducted by Quantum Workplace, on topics including management effectiveness, perks, and fostering employee growth. The organization’s benefits were also audited to determine the company’s overall score and ranking.
“It’s an honor to have Sift recognized as one of the top workplaces in the United States,” said Marc Olesen, President & CEO of Sift. “While the last year has been challenging for everyone, our incredible team of Sifties has pulled together and not only maintained, but built upon our culture, values, and mission to make the internet safer for everyone.”
Read more about the recognition.
Sift raises $50 million at a valuation of over $1 billion
Recently, we closed our Series E funding round, raising $50 million and valuing Sift at over $1 billion. Investors at Insight Partners led the funding, with participants Union Square Ventures and Stripes, granting Sift an invaluable opportunity to continue serving our customers while further enhancing the Sift Digital Trust & Safety Suite.
“Sift has seen incredible traction in the market because of its massive global network and advanced machine learning technology,” said Jeff Lieberman, Sift board member and Managing Director at Insight Partners. “We jumped at the opportunity to double down on the company not only because of its impressive growth and leadership position but also because of the business’s fundamentals and incredible network effects—the more customers Sift has, the more accurately it detects and prevents abuse.”
Read more on TechCrunch.
The Sift team is growing and looking to hire
There has never been a better time to join a company with a scaling, global customer and employee base. While we started as a small but mighty team out of San Francisco, we now have offices and coworking spaces (post-pandemic) in SF, Seattle, Scottsdale, Dublin (Ireland), and Kyiv (Ukraine). If an office isn’t for you, you can also join the ~20% of our team members who choose to permanently work remotely in the U.S. and UK. Sift is working toward building a team that represents the worldwide customers that we serve—inclusive of people from all walks of life who can bring their full selves to work every day. In our Q2 2021 company survey, 97% of Sifties (~89% response rate) believe that the work they do matters here. Come join a passionate group of talented humans and help everyone trust the internet, one Siftie at a time.
Learn more about life at Sift and discover our career opportunities.