Deep Labs secured $16 Million in Funding from Serendipity Capital and others

Deep Labs Inc, a California based AI and creator of patented persona-based, context-aware decisoning and risk systems, has recently secured $16Million in funding round.

Deep Labs, is led by Dr. Scott Edington in the year 2016. It deploys a suite of solutions for transaction authorization and authentication. The company uses persona-based intelligence to improve businesses, ability to integrate customer behavior into their operations, reducing susceptibility and increasing authentication accuracy to cybercrime to address a range of fraud, risk, and user management use cases across the entire financial and banking technology ecosystem.

Executive Opinion

Dr. Scott Edington, CEO of Deep Labs, said, "We are pleased to welcome such a high-caliber group of investors as we expand Deep Labs, add new customers and partners around the world, and continue to hire the best and brightest engineers and professionals. Our new investors have a true understanding of our business, our goals, and our long-term strategy, and we look forward to benefitting from their unique expertise and experience."

Miguel Gamiño Jr., Executive Vice President for Global Cities at Mastercard, said, "Deep Labs is a critical partner for Mastercard, particularly as we focus on enabling hyper-personalized services for citizens around the world. By bringing together Deep Labs’ unique technology with our platforms, we are able to enhance our offering and provide greater access to city services, identification, disbursements, and secure payment capabilities. We are excited to continue our collaboration with the Deep Labs team."

Deep Labs' Latest Funding

The round was backed by the Corsair Capital, Gramercy Ventures, and Serendipity Capital.

Post funding, Robert Jesudason, the Founding Partner at Serendipity Capital, will join the Deep Labs Board of Directors team.

Some of the client and partner bases include American Express, Visa, MasterCard, Booz Allen Hamilton, and others, notes the announcement.