AI-powered Fraud Detection Solutions Provider FRISS Raises $65M

Aitechpark29 Jul, 2021Technology

New Funding to Fuel Rapid Market Expansion, Product Innovation and the Support of Safe Digital Transformation throughout the full Policy Lifecycle FRISS, the most widely adopted provider of AI-powered end-to-end fraud prevention and detection solutions for P&C insurers worldwide, today announced it closed a $65 million Series B funding round led by Accel-KKR, advised by FT Partners and endorsed by existing investor, Aquiline. The funding will fuel the company?s rapid growth with additional product innovations, deep market penetration and lines of business expansions. FRISS serves insurers in over forty countries today, and is well on track to deliver over $2 billion in fraud savings to insurers in 2021 alone.