Czech-based ThreatMark secures €22M from Octopus Ventures, others to help businesses with fraud prevention

Brno, Czech Republic-based ThreatMark, a company specialised in behaviour-based fraud prevention, announced on Tuesday that it has secured $23M (approximately €22M) in a funding round.

The round includes $15M (approximately €14.4M) from Octopus Ventures, and Riverside Acceleration Capital (RAC).

The company got the remaining $8M (approximately €7.6M) convertible note from Springtide Ventures Fund. This latest investment brings the company’s total fundraising to $37M (approximately €35.5M).

The company will use the funds to expand market reach, including key regions like the UK and US, accelerate research and development, and enhance solution capabilities.

“We are excited about this investment, which is a strong endorsement of ThreatMark’s position and will help accelerate our growth. We are committed to leveraging Octopus Ventures’ and RAC’s support to further our mission of protecting people and their transactions, as well as intensifying our efforts to disrupt fraudsters,” says Michal Tresner, CEO of ThreatMark.

ThreatMark: Pioneering fraud disruption force

Led by Michal Tresner, ThreatMark‘s Behavioral Intelligence Platform is a technology for fraud-fighting across all digital channels designed for banks and the financial services ecosystem.

ThreatMark combines machine learning-based Transaction Monitoring, Digital Banking Threat Detection, and Advanced Behavior-based Invisible User Authentication into a single analytical platform.

This integration enables security, compliance, and risk teams to gain a comprehensive view of all digital channels, entities, and transactions for the first time.

“ThreatMark safeguards financial institutions against sophisticated online fraud schemes by harnessing advanced AI-driven technologies. Its platform continuously monitors behavioral, device, threat, and transactional data, detecting deviations that signal potential fraudulent

activity in real-time. With powerful AI and machine learning capabilities, ThreatMark not only identifies known fraud patterns but also adapts to emerging threats, becoming more effective as it processes and learns from new data,” comments Krystof Hilar, CTO of ThreatMark.

The investor

Octopus Ventures, part of Octopus Group, is the most active venture capital investor in the UK and Europe. The VC is on a mission to invest in the people, ideas, and industries that will change the world.

Paul Davidson, Partner at Octopus Ventures, notes, “We’re delighted to be partnering with ThreatMark. The team has had a stellar 12 months of growth, and with our support, we’re confident they can continue to build on this momentum by expanding into the UK and US markets. Online banking fraud is a huge and complex problem for the financial services sectors, one that requires an increasingly sophisticated approach to fraud detection. ThreatMark is set to play a progressively central role in combating it.”

Riverside Acceleration Capital (RAC) provides flexible growth capital and operating resources to help acceleration-stage software companies maximise their potential. RAC has supported more than 75 B2B software companies since its founding in 2016 and is part of The Riverside Company.

“ThreatMark’s team has a deep understanding of what it takes to fight fraud in the financial services sector,” says Jonathan Drillings, Partner at Riverside Acceleration Capital. “They’ve integrated that knowledge into proprietary technology that not only addresses the continually

evolving nature of cyber threats but does so in a way that makes fraud-fighting tools accessible to a broader range of banks and financial institutions.”

Springtide Ventures is an investment vehicle of KKCG dedicated to supporting promising early-stage technology companies across the globe. 

“Springtide Ventures is a firm believer in ThreatMark’s mission and is very proud of the progress achieved since our initial investment in 2017. We are confident that this new capital infusion—reflecting investors’ strong confidence in the company and its founders—will enable ThreatMark to seize the increasing opportunities in both the U.S. and European markets,

positioning the company as a leader in the fraud prevention space,” says David Marek, member of ThreatMark’s board of directors, representing Springtide Ventures, its largest shareholder.