Fingerprint, a Chicago-based device intelligence API, announced today that it has secured a $33 million Series C investment round led by Nexus Venture Partners, with participation from Uncorrelated Ventures. The company’s innovative platform aims to help developers build security solutions by leveraging information from hardware accessing websites, ultimately preventing fraud.
Key Takeaway
Fingerprint has raised $33 million in a Series C funding round to expand its device intelligence platform. The Chicago-based company offers a device fingerprinting API that enables developers to prevent fraud by uniquely identifying devices accessing their websites. The company’s technology, built on the open source Fingerprint.js library, focuses on device attributes and technical details to provide robust security solutions. Fingerprint prioritizes user privacy by collecting only anonymous identifiers and ensuring compliance with privacy laws.
Identifying Devices on the Internet
At the core of Fingerprint’s technology is the ability to identify devices on the internet, regardless of whether they are accessed through browsers like Chrome, Safari, or Firefox, or via native apps on mobile operating systems. According to Dan Pinto, co-founder and CEO of Fingerprint, traditional methods of tracking devices, such as cookies and IP addresses, are becoming less effective due to advancements in browser technology and the increased use of VPNs.
The company’s device fingerprinting API enables developers to uniquely identify devices and prevent fraudulent activities, such as unauthorized access to accounts and the use of stolen credit cards across multiple fake accounts. Fingerprint’s technology goes beyond basic device attributes like screen resolution and installed fonts, delving into technical details like how the device completes an SSL handshake with the server.
Built on Open Source Foundation
Fingerprint’s technology is built upon an open source library called Fingerprint.js, originally created by the company’s co-founder and CTO, Valentin Vasilyev. The project gained popularity, prompting Pinto to approach Vasilyev and collaborate on leveraging the success of the open source project. While the company continues to support the open source libraries, the pro version offers a more robust experience, as it incorporates proprietary technologies that are not available in the open source version.
Respecting User Privacy
Fingerprint acknowledges the privacy implications associated with its solution, especially in regions like Europe with GDPR regulations. However, Pinto emphasizes that the company does not collect personal information. Their system assigns anonymous identifiers to devices, allowing for pattern analysis and the blocking of suspicious identifiers. Fingerprint intentionally designed its system to ensure user anonymity and compliance with privacy laws.
Pinto clarifies that while it is technically possible for companies to use the technology for marketing and advertising purposes, the pricing structure discourages such practices. Fingerprint’s customer base has experienced significant growth, with 6,000 clients, including industry-leading companies like TD Ameritrade, Western Union, and US Bank.
