SANTA CLARA, Calif.,
June 20, 2017 /PRNewswire/ -- Silicon
Valley Bank (SVB), the bank of the world's most innovative
companies and their investors, and In-Q-Tel, Inc. (IQT), the
non-profit strategic investor that identifies innovative technology
for the U.S. Intelligence Community (IC), hosted a pitch event for
venture capital-backed startups to connect with investors, IC
representatives, and leading companies and organizations in the
artificial intelligence (AI) industry. Following pitches and panel
questions, judges selected Feedzai, a leader in attainable AI for
real-time risk management and fraud detection across banking and
ecommerce, as the most innovative AI startup of 2017.
"We are at the forefront of an incredible opportunity
with AI. This event proves how powerful it is to have
entrepreneurs and VCs working together toward developing
game-changing technologies," said Nuno
Sebastiao, CEO and co-founder of Feedzai. "It's an honor to
receive this award from such an impressive panel of experts, and
I'm proud of the dedicated work of our growing team that keeps
Feedzai's innovation stream flowing day after day."
Founded in 2009, Feedzai's mission is to make commerce safe. Its
technology is built using artificial intelligence that adapts with
the detection of new malicious threats at scale, helping enterprise
customers make data-backed decisions and de-risk commerce
transactions in real time. Its investors include Sapphire Ventures,
Oak HC/FT, Citi Ventures, Data Collective and others.
"The AI and machine learning space is attracting a wave of
entrepreneurs and VC investments," said Tracy Isacke, managing
director, Corporate Venture at Silicon Valley Bank. "These
entrepreneurs are doing really exciting things and providing novel
solutions to enterprise applications ranging from cybersecurity,
business intelligence and operational optimization of data
processing and compute workloads. Feedzai is using AI to help
banks, payment providers and retailers manage the risks associated
with banking and shopping, both digitally and in person."
The "Discovery Event," now in its sixth year, focused on the
AI-powered enterprise. Twelve startups, selected from more than 70
submissions, presented their business ideas to a panel of
executives. Those judging included executives from FireEye, Intuit,
IQT, Lockheed Martin, Microsoft, NVIDIA, Silicon Valley Bank,
Symantec, the United Services Automobile Association, and others.
The companies that pitched at the event include Agolo, Alation,
AttackIQ, DataVisor, Mist, Osaro, Inc., Pilot AI Labs, SigOpt,
SlashNext, Veriflow, and Waterline Data.
"We were very impressed with the 70+ nominations submitted for
this event, which makes this a notable win for Feedzai," said
George Hoyem, managing partner,
Investments at In-Q-Tel. "The lineup of companies applying real
artificial intelligence and deep learning towards enterprise
focused applications is indicative of a very large tech trend in
this area."
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped
innovative companies and their investors move bold ideas forward,
fast. SVB provides targeted financial services and expertise
through its offices in innovation centers around the world. With
commercial, international and private banking services, SVB helps
address the unique needs of innovators. Learn more at svb.com.
©2017 SVB Financial Group. All rights reserved. SVB, SVB
FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the
chevron device are trademarks of SVB Financial Group, used under
license. Silicon Valley Bank is a member of the FDIC and the
Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial
Group (Nasdaq: SIVB).
About IQT
In-Q-Tel (IQT) is the non-profit strategic investor that
accelerates the development and delivery of cutting-edge
technologies to U.S. government agencies that keep our nation safe.
IQT was established in 1999 with a distinct mission: to identify
and partner with startup companies developing innovative
technologies that protect and preserve our nation's security. Visit
www.iqt.org for more information.
About Feedzai
Feedzai is AI. We're coding the future of commerce with the most
advanced risk management platform powered by big data and
artificial intelligence. Founded and developed by data scientists
and aerospace engineers, Feedzai has one critical mission: make
banking and commerce safe. The world's largest banks, payment
providers and retailers use Feedzai's agile machine learning
technology to manage risks associated with banking and shopping,
whether it's in person, online or via mobile devices. Learn more
about Feedzai at www.feedzai.com.
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SOURCE Silicon Valley Bank