Assaf Feldman & Eido Gal
Assaf Feldman and Eido Gal started Riskified because they believed e-commerce merchants were turning away legitimate customers out of fear of fraud. Merchants were using outdated rule-based or scoring fraud prevention solutions that left the liability for fraud in their hands, and they felt this was not helpful. Riskified would create a new solution that took the best of what machine learning had to offer and make more accurate decisions, approve more orders, while shifting the liability immediate. With this idea in mind they left the company they were working at and started Riskified.
Entrée Capital provided Riskified's seed funding, led its Series A and participated in its Series B. Riskified IPO'd on the NYSE, ticker RSKD, in July 2021, at a valuation of $3.3bn.
Advice from Eido to founders : “When you start your own tech company you are focused on the technology, the financials and (maybe) your pitch to potential investors, but you don’t pay as much attention to hiring and making sure that all parts of the machine will run smoothly when you scale up. One of the best tips I got before starting Riskified was to hire smart, capable people with whom you’d like to spend time.”
“The Entrée partners are not only investors but are also experienced founders, capable of providing good advice to entrepreneurs starting their own companies. Entrée helped us at the first stages of the company, backed us in our Series A when others would not and continued that support doubling down again before our next round – Entrée has been a great partner.”
– Eido Gal, CEO and co-founder
Related Resources
Riskified: Managing Risk from Startup to IPO
The Israeli e-commerce fraud protection company is raising $363 million and an additional $55.1 million, if the underwriters exercise their options.
