ShopRunner buys Precognitive, an AI-based fraud-prevention provider

Monday 28 January 2019 13:04 CET | News

ShopRunner has acquired Precognitive, an AI-based fraud-prevention provider, and has taken investment from UPS to close its most recent round of financing.

This partnership will allow UPS and ShopRunner to support retailer demand generation programs while adding a shopping platform for UPS My Choice members. Moreover, by acquiring Precognitive, an enterprise fraud-prevention solution that combines device intelligence, advanced behavioural analytics, and a real-time decision engine, ShopRunner will be able to identify online fraud.

ShopRunner is a free two-day shipping and checkout ecommerce network that connects retailers with millions of ecommerce shoppers. Following its recent acquisition of mobile app Spring, the network’s acquisition of Precognitive expands its suite of enterprise products to include fraud prevention. Like the rest of its solutions, ShopRunner will provide the Precognitive product as a value-added benefit to its network of retailers.

Overall, the acquisition of Precognitive kicks off 2019 on the heels of a year that included the launch of mobile app District, the acquisition of Spring, a USD 40 million fundraise, and new additions to its Board of Directors, according to the official press release.

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Keywords: ShopRunner, acquisition, investment, AI, fraud prevention, behavioural biometrics, UPS, ecommerce, Precognitive
Countries: World

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