Initially focused on tech companies, DataVisor pivoted to financial institutions as their primary market, raising significant funding to support this shift. Despite challenges in the fintech market, DataVisor has secured major clients like SoFi and Affirm, offering comprehensive fraud prevention solutions. The company’s strategy involves deep customer relationships and a holistic approach, allowing them to charge premium fees. With a strong belief in their technology, Xie and Yu aim to expand DataVisor’s impact and grow the company further.
Key takeaways:
- Yinglian Xie and Fang Yu, both with Ph.D.s in internet security, co-founded DataVisor in 2013, focusing on fraud detection using unsupervised machine learning.
- DataVisor's technology identifies emerging fraud networks in real-time, providing a unique advantage in the financial security sector.
- After initial struggles, DataVisor pivoted to target financial institutions, leading to significant revenue growth and inclusion in Forbes' Fintech 50 list.
- DataVisor's approach involves deep customer relationships and a holistic fraud prevention solution, allowing it to charge premium fees compared to competitors.