Deep Labs with $ 16 million in new funding

Deep Labs, an American startup that uses AI (artificial intelligence) to build “person-based” risk systems, has provided $ 16 million from a group of investors in the fintech space.

Gunnar Overstrom, a partner in Corsair Capital, Serendipity Capital and Gramercy Ventures, is leading the investment.

Founded in 2016 by former Visa Labs boss Scott Eddington, Deep Labs uses personalized intelligence to authenticate transactions and authorize.

The company’s technology creates dynamic profiles of adaptive risk and habits of consumers of products and services – analyzing whether the behavior is typical or unusual and how this behavior changes, ” moving through space and time .”

For example, the company says it can determine how people use their devices differently in the morning and at night.

The technology is used by Deep Lab customers to deal with things like account takeover, money laundering and more.

Deep Labs lists Visa and American Express among its early customers and Mastercard as a partner.Eddington:

“We built Deep Labs to move the world of solutions from a static, one-dimensional process to a multidimensional one that uses the latest computational and mathematical methods available.

With a next-generation persona-based mindset that uses context-based computing, our innovative products represent a new way for businesses and their customers to understand how an actor’s behavior changes as he moves through time and space. ”

Separately, Deep Labs was selected to participate in the first launch of Goldman Sachs with GS Black Black and Latinx Entrepreneur from the cohort. As one of the 14 members of the cohort, Eddington will receive an eight-week virtual experience, with access to the bank’s resources and contacts.