We are proud to announce that Rippleshot has moved into Catapult.
Rippleshot uses predictive technology to provide a cutting-edge breach detection solution to financial institutions, processors and merchants. Using cloud-based, big data analytics to detect compromises of payment card information dramatically faster than current approaches, Rippleshot allows its users to proactively monitor for suspicious activities and take action when the breach (and the financial risk) is still small. When compromises occur, Rippleshot helps banks and credit unions implement smarter fraud risk management strategies, whether that’s to re-issue a card at high risk, or write smarter decline rules to keep fraud losses and customer disturbances to a minimum.
“We are thrilled to have Rippleshot join our Catapult family.” said April Lane, Catapult’s Executive Director. “They are exactly the kind of company that fits the Catapult profile - a growing tech startup with traction led by a smart, experienced, and driven team who believe in the value of community. We look forward to getting to know them well this year.”
Rippleshot was founded in 2012 by Canh Tran, Yueyu Fu, and Randal Cox, who have years of experience in machine learning, banking, and fraud analysis. Currently a team of 7, the company is growing fast. Marci McCalmon, Rippleshot’s Vice President of Operations tells Catapult, “We are actively recruiting new hires in the areas of sales and development. In addition, our new partnerships are going very well. We’re seeing significant results and getting great product feedback from clients about how our platform is being used.”
Rippleshot is also getting noticed. In December, they closed a $1.2M bridge round, which followed an $800,000 Seed round in June 2014. They were on ChicagoInno’s list of 16 Startups to Watch in 2016 and on Built In Chicago’s list of Top 50 Startups to Watch in 2016.
The Rippleshot team has quickly settled in to their new home. “We’re really excited to be part of this intimate community and learn from other companies that are growing like we are, and to share challenges and successes with startups at our same stage,” said Marci. “At the same time, we’re excited to contribute by imparting our knowledge of big data analytics and machine learning, and provide any other help that we can.”