PayPal sinks $520M into Simility & Hyperwallet, Cylance courts $120M – Friday Deal Book for 06/22/2018

OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements from across the identity industry. This week, two major investments from payment giant PayPal, Cylance rakes in $120 million, plus funding rounds for Agari, Pipedrive and Veriff.

PayPal acquires Hyperwallet for $400 million

The all-cash deal will enhance PayPal’s payout capabilities, improving its ability to provide payment solutions for ecommerce platforms and marketplaces. Once finalized, the acquisition of Hyperledger will give both PayPal and customers of its subsidiary Braintree access to localized multi-currency payment payment distribution capabilities in more than 200 markets. They will also gain disbursement options, including prepaid card, bank account, debit card, cash pickup, check, and PayPal. Hyperwallet is a global payout platform that aims to offer a superior payment experience through a single integration. The company has offices in San Francisco, Austin, London, Sydney, and Vancouver. [Read more]

PayPal also acquires Simility for $120 million

In its second major acquisition of the week, PayPal will also expand its global merchant offerings with the purchase of Simility, a provider of real-time risk and fraud decisioning solutions. Upon closing, the acquisition of Simility will give PayPal merchants access to advanced fraud tools that can be customized to reflect the nuances of their business through their existing account manager dashboard. Simility’s technology features machine learning tools that can adapt and evolve with each transaction. Like the Hyperwallet purchase, the Simility deal is all cash. [Read more]

Cylance raises $120 million for AI-powered threat prevention

The Series E round was led by Blackstone Tactical Opportunities, which was joined by other unnamed investors. Cylance uses artificial intelligence, algorithmic science and machine learning to help prevent cybersecurity threats. The company claims its approach prevents attacks on average 25 months before they are launched and first discovered. Cylance plans to use the financing to continue its global expansion, as well as extending its portfolio of cybersecurity solutions. [Read more]

Agari raises $40 million for AI-based email authentication

The round was led by Goldman Sachs Growth Equity, with participation from existing investors, including Northwest Venture Partners, Scale Venture Partners, Battery Ventures, Greylock Partners, First Round Capital, and Alloy Ventures. Agari detects potential email breaches, identifies potentially dangerous messages like phishing attempts, and can verify the identity of a sender before delivering an email to the recipient. The company plans to use its funding to enhance data science and go-to-market investments. Current clients include Google, Microsoft and Facebook. [Read more]

Pipedrive procures $17 million for sales software

The Series B funding round was led by Atomico, with participation from existing investors Bessemer Venture Partners and Rembrandt Venture Partners. Pipedrive develops customer relationship management software targeted at small businesses. Its tools integrate with major platforms like MailChimp, Google Apps, Trello and Zapier. While it focuses on small businesses, it does have major clients such as Amazon. [Read more]

Veriff takes in $7.7 million for identity SaaS platform

The Series A round was led by Mosaic Ventures and was joined by Taavet Hinrikus, Ashton Kutcher, Paul Buchheit, Elad Gil, Y-Combinator, SV Angel, ACE Ventures, LIFT99 and Superangel. To date, the company has raised $8.4 million from 25 institutional and private investors. The company plans to use its latest infusion of cash to further develop its SaaS product, and also to expand into the U.S. market. Veriff’s SaaS allows banks and fintechs to more easily verify a person’s identity online. The tools come in a developer-friendly API, drawing comparisons to Stripe. [Read more]