MassChallenge

MassChallenge is a non-equity startup accelerator headquartered in Boston, Massachusetts, with additional locations in Israel, Mexico, Switzerland, Texas, and the UK. Founded in 2009, it focuses on fostering innovation and entrepreneurship by supporting high-potential startups across various industries globally. MassChallenge provides expert mentorship, a tailored curriculum, and access to corporate partners without taking any equity from the startups. Its programs, including specialized initiatives like MassChallenge FinTech and MassChallenge HealthTech, aim to facilitate partnerships between startups and established companies to drive innovation and growth. To date, MassChallenge has helped over 1,200 alumni raise more than $2 billion in funding and create over 65,000 jobs, demonstrating its significant impact on the global innovation ecosystem.

Cait Brumme

Acting CEO

Cait Brumme

Managing Partner

Siobhan Dullea

CEO

Matt Lashmar

Managing Director

Camila Lecaros

Managing Director

Yonit Serkin

Managing Director

Devon Sherman

Founding Director, Head of MassChallenge FinTech

Michelle Williams

Vice President and Head of Texas Strategy

Past deals in Fraud Detection

Ferrum Health

Non Equity Assistance in 2021
Ferrum Health is a developer of an enterprise IT and AI patient safety platform for health systems. Ferrum Health provides an artificial intelligence (AI) technology platform for health system executives to prevent medical errors across their patient population, serving as a safety net that uses AI algorithms to assist quality teams in the peer review of radiology studies.

KNWN

Non Equity Assistance in 2021
KNWN is a developer-first, end-to-end, digital identity authentication and management company that reduces losses from fraud while increasing engagement between organizations and their customers. We use a combination of AI-powered unique device communication and evolving facial biometrics, with an optional unique PIN code to deliver secure identity verification and authentication, with unmatched speed and accuracy at scale from enrollment through every transaction, across any platform and camera-enabled device. KNWN is creating trust in our rapidly evolving digital world by balancing privacy, security, and access.

Guidance Analytics

Non Equity Assistance in 2021
Guidance Analytics is providing artificial intelligence solutions that extract performance data required for medicare payment adjustments.

Whrrl

Non Equity Assistance in 2021
Blockchain platform to reduce Million Dollar Frauds infesting banking industry in warehouse receipt finance segment along with social impact objective of increasing farmers' income.

Voi

Non Equity Assistance in 2021
Voi addresses vital behavioral health needs through advanced analytics and assessments. Voi Detect was created to save lives. It takes less than two minutes to complete and provides immediate feedback about imminent suicide risk within the following 72 hours. Voi Detect is a new standard of care. It assesses risk as accurately as a highly trained psychiatrist and provides detailed analytics about the patient population.

Authena

Non Equity Assistance in 2021
Authena is an IoT and Blockchain platform used for traceability and authenticity protection of brands. With its platform, the company revolutionizes how brands of high-value goods protect their products and reputation against counterfeiting and reach unprecedented levels of end-user engagement. It protects product identity against counterfeit, product diversion, and fraud by gaining access to detailed customer insights and analytics and improving finances by limiting distribution costs and boosting direct-to-consumer sales.

Optalitix

Non Equity Assistance in 2020
Applied machine learning for insurance and banking

V2verify

Non Equity Assistance in 2020
Protecting the worlds data through Voice BioMetrics

HackNotice

Non Equity Assistance in 2020
HackNotice is a threat intelligence company specializing in data breaches as well as leaked credentials and identities.

Access Informer

Non Equity Assistance in 2020
Access Informer is a simple yet powerful solution to collect, analyze and monitor user authorizations across key systems

Garbo technology

Non Equity Assistance in 2020
Developer of an online platform intended to prevent gender-based crimes by providing transparent access to information. The company's platform aggregates public records and reports and provides free, transparent access to this information in a matter of minutes, enabling users to search someone's criminal record, from police report to conviction, before a first meeting.

Greyscout

Non Equity Assistance in 2020
Developer of cyber security tools intended to protect against online counterfeits, rogue websites, grey market operators, and unauthorized content. The company helps to monitor, identify, and quickly remove counterfeit and infringing content online, enforce against grey market activity, and protect channel partner relationships by proactively monitoring, enabling businesses to ensure that control is maintained for brand & content online, achieving long-term benefits and improvements.

Pixm

Non Equity Assistance in 2020
Pixm, Inc. is a cybersecurity company based in New York that specializes in developing artificial intelligence technologies aimed at preventing phishing breaches. Founded in 2013, Pixm employs visual recognition to identify zero-day phishing attacks, effectively scrutinizing every webpage for brand and login impersonations without relying on traditional whitelisting methods. The company's services encompass anti-phishing, email security, computer vision, and deep learning, providing comprehensive security solutions for businesses and organizations to enhance their website, network, and computer security.

Safekeep

Non Equity Assistance in 2020
Safekeep powers Claimflo which automates claims processing by applying NLP on adjuster notes and by executing regulatory, line of business, and special handling business rules. Safekeep's rule inventory of over 3,000 business rules is based on input from our predictive models and team of experienced claims professionals.

Stratyfy

Non Equity Assistance in 2019
Stratyfy, Inc. is a New York-based company that specializes in AI-driven predictive-modeling software tailored for financial institutions. Founded in 2017, Stratyfy's platform enables users to develop predictive models and optimize decision-making processes while ensuring transparency and compliance within highly regulated environments. The software provides solutions for credit risk assessment and insurance fraud detection, empowering business leaders, data scientists, and compliance professionals to make informed, ethical decisions. Stratyfy's proprietary technology, branded as Smartificial Intelligence™, enhances traditional human expertise with explainable AI, facilitating a clear understanding of predictions and decisions. This approach addresses the challenges of machine learning in the financial sector, ensuring that models are both accurate and comprehensible. With research and development operations in Israel and Germany, Stratyfy aims to reduce operational and financial risks for its clients.

Pixm

Pre Seed Round in 2019
Pixm, Inc. is a cybersecurity company based in New York that specializes in developing artificial intelligence technologies aimed at preventing phishing breaches. Founded in 2013, Pixm employs visual recognition to identify zero-day phishing attacks, effectively scrutinizing every webpage for brand and login impersonations without relying on traditional whitelisting methods. The company's services encompass anti-phishing, email security, computer vision, and deep learning, providing comprehensive security solutions for businesses and organizations to enhance their website, network, and computer security.

Swipe

Non Equity Assistance in 2019
Swipe’s proprietary technology bundles a seamless customer experience around two-factor authentication for any online or offline card transaction.

kaiosID

Non Equity Assistance in 2019
kaiosID offers a cloud-based traceability solution aimed at combating counterfeiting and grey market issues. The technology embeds unique hidden patterns into product packaging, creating a distinctive fingerprint for each item that can be verified using a smartphone. This innovative approach seamlessly integrates into existing production, packaging, and logistics processes without the need for additional hardware. In addition to tracking consumer goods, kaiosID's platform provides clients with theft prevention analytics and customizable systems that enhance brand protection and facilitate direct connections with consumers. By enabling effective monitoring and verification, kaiosID helps brands maintain their reputation and safeguard their products.

HINTS

Non Equity Assistance in 2019
HINTS Providing a solution for social media companies to instantaneously detect the spread of fake news of any medium: text, audio, or video.

Authena

Non Equity Assistance in 2019
Authena is an IoT and Blockchain platform used for traceability and authenticity protection of brands. With its platform, the company revolutionizes how brands of high-value goods protect their products and reputation against counterfeiting and reach unprecedented levels of end-user engagement. It protects product identity against counterfeit, product diversion, and fraud by gaining access to detailed customer insights and analytics and improving finances by limiting distribution costs and boosting direct-to-consumer sales.

FiVerity

Non Equity Assistance in 2018
Headquartered in Boston, FiVerity, Inc. develops and markets AI- and machine learning software solutions that detect new and emerging forms of cyber fraud and deliver actionable, proactive threat intelligence. The company’s products meet the unique requirements of financial institutions, including banks, credit unions, and credit card providers. The company’s solutions help financial institutions strengthen, streamline and scale their consumer-facing business processes, such as application processing, credit verification, and customer onboarding. With its predictive and proactive approach, FiVerity’s solutions help customers to improve their internal processes to reduce losses from fraud and drive faster, and more profitable and sustainable growth.

WalletFi

Non Equity Assistance in 2018
WalletFi is a developer of a subscription management platform that helps users manage recurring charges and payments. The platform utilizes machine learning technology to identify subscriptions and Card-on-File merchants, providing personalized insights to users. By facilitating the transfer of payments to new cards during re-issuance, WalletFi not only aids consumers in managing their financial commitments but also reduces customer churn for banks and financial institutions. This approach enhances customer engagement and reinforces the loyalty of users towards their financial service providers. Additionally, WalletFi offers detailed analytics that enable financial institutions to expand their customer base and improve overall user wellness, ultimately delivering a measurable return on investment.

SafeinHome

Non Equity Assistance in 2017
SafeinHome Senior Safety System helps keep elderly loved ones living in their own home longer by sending text alerts to family caregivers if something might be wrong and lets you check in any time right from your smartphone, tablet or computer.

Veripad

Grant in 2017
VeriPAD is a startup focused on combating the widespread issue of counterfeit medications, particularly in low- to middle-income countries where a significant percentage of drugs may be fake. The company has developed a counterfeit drug detection platform that automates the authenticity testing of medications, including amoxicillin and pravastatin, to help reduce the risks associated with counterfeit drugs. Their solution features a testing kit that uses chemically pre-treated paper that changes color upon contact with a drug, along with a smartphone application that alerts users to the authenticity of their medications. By empowering patients with accessible and accurate technology, VeriPAD aims to raise awareness about counterfeit medications and improve health outcomes for millions affected by this critical issue.

Lefort

Grant in 2017
Lefort is a developer of a virtual robotic platform that processes and validates financial transactions in real-time. This innovative system automatically registers, analyzes, and executes transactions, creating a fully digital workflow. By streamlining payment processes, Lefort offers customers and corporate clients a cost-effective and efficient alternative for managing their financial activities. The platform is designed to enhance transaction accuracy and speed, making it a valuable tool for businesses looking to optimize their financial operations.

AuCoDe

Grant in 2017
AuCoDe aims to be the Google Alerts of controversies and crisis situations. By automatically analyzing social media and digital news streams using sophisticated machine learning techniques, they provide early detection of controversies and crisis situations. Their cutting-edge technology rapidly detects or predicts crisis situations, so their quantities trading customers can use these insights directly for complex trading strategies and beat their competition to the best trades.

Fintecture

Grant in 2017
Fintecture is an authorized Payment Institution in France, offering a bank-to-bank instant payment solution known as Fintecture Pay by Bank. This service enables merchants and businesses to bypass card limits, reduce transaction costs, and receive funds quickly in their bank accounts. By facilitating direct payments from customers' bank accounts, Fintecture enhances security and minimizes fraud, as it eliminates chargebacks and illegitimate payment declines. The payment gateway also simplifies the payment process for various needs, including B2B transactions, recurring payments, and payment links. With its focus on open banking, Fintecture helps businesses increase sales and improve cash flow by streamlining payment collections.

Pixm

Seed Round in 2017
Pixm, Inc. is a cybersecurity company based in New York that specializes in developing artificial intelligence technologies aimed at preventing phishing breaches. Founded in 2013, Pixm employs visual recognition to identify zero-day phishing attacks, effectively scrutinizing every webpage for brand and login impersonations without relying on traditional whitelisting methods. The company's services encompass anti-phishing, email security, computer vision, and deep learning, providing comprehensive security solutions for businesses and organizations to enhance their website, network, and computer security.

Remedy

Non Equity Assistance in 2016
Remedy is an online service established in 2015 that helps individuals safeguard themselves against overcharges resulting from errors in medical billing. The platform reviews past medical bills and continuously monitors and assesses new bills as they are generated. By identifying discrepancies and advocating for fair billing practices, Remedy aims to protect families from the financial burden of incorrect medical charges. The company was founded by John Schulte, Victor Echevarria, and Marija Ringwelski (Sedlar).

Paygilant

Grant in 2016
Paygilant Ltd. specializes in mobile fraud prevention solutions aimed at safeguarding online transactions, payments, and money transfers. Founded in 2014 and headquartered in Ramat Gan, Israel, the company addresses the growing threat of mobile fraud as the adoption of mobile payments accelerates. Paygilant offers a range of services, including account takeover protection, new account fraud solutions, and transactional fraud detection. Its technology focuses on providing a seamless user experience while enhancing security for banks, eCommerce platforms, and payment providers. By implementing frictionless authentication, Paygilant ensures that legitimate customers are authenticated throughout their user journey, from app download to ongoing transactions, thus maintaining trust and security in the evolving digital payment landscape.

PiraShield

Grant in 2016
PiraShield has combined years of networking experience with state of the art hardware to develop a digital surveillance system to help you solve the issue of online theft. With PiraShield you know when someone steals your digital assets, where the theft occurred and fast acting response to remedy it. Feel free to reach out to their team. They are helping make the impossible possible with online digital surveillance.

Suspect Technologies

Grant in 2016
Suspect Technologies, Inc. designs and develops semi automated redaction software. It offers video and audio redaction services to police agencies. The company's software allows investigative agencies to redacting people’s faces and identities in videos. It caters to airport, law agency, and field facial recognition industries. The company was founded in 2015 and is based in Cambridge, Massachusetts.

Bayonet

Angel Round in 2016
Bayonet Technologies, Inc. is a company that specializes in developing reputation system software aimed at visualizing user reputation and assessing risk, particularly in the context of online transactions. Founded in 2016 and based in Camden, Delaware, Bayonet provides a unique risk-management platform that leverages collectively-sourced data and advanced decision algorithms. This platform allows banks, payment processors, financial institutions, and lenders to analyze online payments in real-time, effectively preventing fraudulent transactions while ensuring legitimate customers can complete their purchases. By utilizing a tailored approach to machine learning, Bayonet can calibrate its decision models in just five days, significantly reducing the resource burden associated with fraud detection compared to traditional methods. The company's solutions are designed to enhance payment approval rates for e-commerce businesses, helping them navigate the challenges of fraud and low acceptance rates.

Sinclair Fire

Grant in 2015
Smarter, Faster, Safer - SinclairFire. Inspired to make a difference after a personal tragedy, they are passionate about helping to make the world a safer place. Thousands of people in the UK suffer devastating fires each year. At Sinclair Fire, they want to change this through the use of breakthrough technology. Their primary innovation is the SF1020, an infrared fire detection device, designed to respond to fires rapidly and without false alarms, saving lives and reducing the cost of fire damage. They work with Fire and Rescue Services, Social Housing Providers and Developers to make the home a safer place.

Astra IDentity

Grant in 2014
Astra IDentity is the leader in developing innovative e-mail security solutions that protect organizations and empower their personnel to combat phishing and targeted spear phishing attacks. Their patented Impostor Detection® technology helps filter incoming attacks and provides organization employees with in-line training and powerful tools to manage their e-mail infrastructure. Astra IDentity is based out of Massachusetts, USA and our solutions are used by organizations worldwide.

MedAware

Grant in 2013
MedAware Ltd specializes in developing solutions aimed at detecting and eliminating prescription errors to enhance patient safety and reduce healthcare costs. Founded in 2012 and headquartered in Raanana, Israel, the company utilizes advanced data analytics and machine learning algorithms to analyze extensive electronic medical records. Its offerings include the MedAS alerting system for real-time alerts on prescription errors, MedRIM for risk management support, MedQC for quality control assistance, and MedRAF to reduce alert fatigue. These tools enable healthcare providers, pharmacy benefit management companies, and pharmacy chains to leverage big data effectively, identify potential prescription errors related to drug interactions, dosages, and allergies, and ultimately improve patient outcomes.

Metrilog

Grant in 2011
Many businesses have increasingly large quantities of untapped data that are unstructured, noisy, and expensive to analyze. Yet, the existing tools will not scale with the anticipated growth of big data. Their algorithm for large-scale classification is exponentially faster than existing algorithms, and they will leverage this and other machine learning algorithms to build fast, large-scale data analysis solutions that will allow businesses to extract value from their data today and into the future.

Tinfoil Security

Grant in 2011
Tinfoil Security, Inc. provides security-as-a-service based Website security solutions. It crawls into Websites and looks for common vulnerabilities; and acts as external hackers, picks through various access points on the Website, tries to get in, records where and how the company did it, and reports back. The company searches for the most common vulnerabilities; secures the site from the OWASP top ten, a list of the most commonly infiltrated vulnerabilities; and builds up from there. Tinfoil Security was incorporated in 2011 and is based in Palo Alto, California. As of January 9, 2020, Tinfoil Security, Inc. operates as a subsidiary of Synopsys, Inc.

Sproxil

Venture Round in 2011
Sproxil, Inc., founded in 2008 and headquartered in Cambridge, Massachusetts, specializes in product protection and consumer engagement solutions. The company offers a range of services aimed at enhancing brand integrity and consumer trust. Its flagship products include Sproxil Champion, a point-of-sale rewards program for consumers, Sproxil Defender, which enables product verification through mobile technology, and Sproxil Informer, a track and trace system for supply chain monitoring. These solutions cater to various sectors, including beauty and personal care, fast-moving consumer goods, automotive, and pharmaceuticals, helping brands combat counterfeiting and ensure product authenticity. Sproxil also provides bespoke solutions for distributors and consulting services, reinforcing its commitment to enhancing brand equity and consumer loyalty.
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