The startup offers a cybersecurity platform that analyzes email communications to detect and prevent fraudulent activities, including identity theft and payment fraud. By employing advanced algorithms for threat detection, the platform ensures the integrity of sensitive information and financial transactions for its clients.
Funding
$4.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Email-based payment fraud, including business email compromise and payment redirection scams, is a growing threat, resulting in billions of dollars in losses annually. Traditional security measures often fail to detect sophisticated attacks that manipulate payment details within email communications. This leaves organizations vulnerable to financial losses and reputational damage.
Solution
Walrus Security's DoubleCheck platform provides a trust infrastructure for payments by automatically verifying payment details and protecting against email-based fraud. The platform integrates into existing payment workflows to securely collect and authenticate payment information for wire transfers, stock transactions, and other financial exchanges. DoubleCheck protects organizations even if their email systems are compromised, providing a guarantee against losses due to fraudulent payment instructions. By adding a layer of authentication, DoubleCheck reduces friction for both the payer and payee while ensuring the integrity of financial transactions.
Target Audience
The primary target audience includes security-minded funds, fund administrators, fundraising platforms, family offices, and foundations that manage significant assets and require robust payment security.
Features
- Automatic collection and verification of payment details
- Protection against email takeover and payment redirection scams
- Integration with existing payment workflows
- Guarantees against losses due to fraudulent payment instructions
- Low-friction authentication process for payers and payees
- Advanced technology for payment protection