Commercializing the open source FingerprintJS browser fingerprinting tech nabs Chicago entrepreneur $4M
Chicago-based serial inventor Dan Pinto has raised brand-new currency and propelled a new company looking to commercialize a years-old open source activity that purports to solve one of the web’s hardest questions — hoax prevention.
The company he initiated in january, FingerprintJS, brags itself as a brand-new kind of toolkit offering browser fingerprinting as a service for any application.
The company, based on an open source job that are currently has 5 million downloads and 8,000 websites employing the services offered( and hundreds of paying customers, according to the company ), is a variation on the browser fingerprinting technology that companies have been using for years.
FingerprintJS uses the same canvas fingerprinting, audio sampling, WebGL fingerprinting, font observation and browser plugin probing tech that’s available on world markets, but de-identifies the fingerprint from a specific device by generating a distinct identifier of a browser without using cookies. Fellowships can store the identifier in their database and then track its behaviour, the company said on its website.
The open informant project was actually started five years ago by Valentin Vasilyev, according to the project’s Github page. Vasilyev and Pinto worked together at Pinto’s last-place startup, Machinio, which was sold back in 2018. The two men propelled a business around Vailyev’s project in January and have raised$ 4 million in financing to support the commercialization of the project.
“The open root parish was decisive to our success thus far ,” said Vasilyev, in a statement.” We will continue to build upon that base and focus on selling to developers firstly. Software designers understand technology and are starting to recognize how effective our commodity is to help stop fraud .”
Funding came from Nexus Venture Partners, with participation from Hack VC, the Entrepreneur Roundtable Accelerator’s Remarkable Ventures fund and angel investors like Rony Kahan, the chair and co-founder of Indeed, according to a statement from FingerprintJS.
“FingerprintJS APIs make it possible for makes to quickly embed fraud detecting and prevention capabilities into their code, ” said Abhishek Sharma, principal at Nexus Venture Partners, in a statement. “We are excited of collaborating with the FingerprintJS team because of their product-led bottom-up technology development and rationing in different categories that has historically been reliant on top-down project sales.”
One potential roadblock to FingerprintJS’ raise comes from recent the General Data Protection Regulations enacted by the European Union and better known by their acronym, GDPR. Those regulations restrict the use of several browser fingerprinting and tracking technologies. Some browsers, including Chrome, Firefox, and Safari, have even set up their own dominances to limit the amount of data a website can use to track pilgrims online.
Pinto is undeterred.
“We have a unique opportunity to disrupt the fraud technology market by enabling our customers to build fraud prevention in their applications rather than it being an afterthought just as Stripe has done with payment processing, ” he said in a statement provided by the company. “Think of online forgery as a shell game where malicious consumers are perpetually trying to hide themselves in order to commit fraud. Existing solutions try to generate a fraud score for each guest without trying to understand who they are. We focus on uniquely marking malicious customers which instantly solves the underlying fraud problem.”
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