Microsoft's venture fund M12 invests in fintech-security startup nsKnox

nsKnox is a fintech-security startup that focuses on protecting corporate payment systems against insider threats, cyber-fraud, and data manipulation attempts. nsKnox offers real-time verified payment protection and fraud detection, specifically designed to prevent financial losses due to fraudulent payments. Microsoft’s venture capital arm M12 has now invested in nsKnox as part of the $15 million Series A funding round. nsKnox will use this fund to expand its customer base and to further develop its corporate payment protection platform.

“Businesses are so focused on protecting their data and the identity of their users that they are not doing enough to protect the very lifeblood of their organization — their money,” said nsKnox CEO Nir Tenzer. “nsKnox is bringing corporate payment protection into the digital age, arming companies in the battle against payment fraud, manipulation and cybercrime. The backing of M12 and Viola Ventures is a tremendous vote of confidence in our ability to protect organizations worldwide and help them tackle this incredibly costly issue.”

“The evolving nature of cybercrime creates a perpetual challenge for businesses to detect and mitigate fraudulent behavior, which costs corporations significant amounts of money every year,” said Lior Litwak, Principal at M12. “nsKnox’s corporate payment solution solves a critical business issue at scale, saving businesses the time, money and headache that result from fraudulent threats. We look forward to being a part of nsKnox’s journey as they grow and expand.”

Source: nsKnox