During the program, Michael Reitblat, CEO & Co-Founder of Forter, will share the Forter story, to be followed by a live Q&A in front of a virtual audience. Forter has developed the next generation eCommerce enablement platform – offering a completely fraud-free payment environment for merchants, banks, payment providers and consumers. By removing the fear of fraud, Forter has established an ecosystem of trust which enables retailers to drive more sales through their websites and mobile apps, and creates a significantly better buying experience for consumers.
March Capital has taken a large position in Forter, which recently announced a $125 million financing, bringing its post-money valuation to just over $1.3 billion. We believe Forter can do for identity authentication what CrowdStrike has done for endpoint security and in the process build a highly valuable standalone public company.
The pandemic has provided a strong tailwind to the eCommerce sector and has dramatically accelerated the shift from offline to online sales (up by a staggering 44% YoY). This momentum has led to increased fraudulent online and mobile transactions, which are estimated to amount to $7.2 billion in the US, up from $5.5 billion last year. The market demand for real-time fraud prevention has resulted in explosive growth for Forter in the past year. They doubled their revenue in 2020 and have experienced incredible metrics across the board – including 146% net dollar retention. Over 22% of all US eCommerce (non-Amazon) went through Forter, and 97% of online purchases made in the US today are made by consumers within Forter’s network.
The opportunity cannot be overlooked. Aite Group reports that merchant losses to eCommerce fraud are projected to grow to $6.4 billion by 2021. Forter is not only directly positioned to prevent these fraudulent transactions, but also to solve the problem of $443 billion in falsely declined online payments.
Join us for what may be our final discussion with Michael on this unparalleled boom in eCommerce and how it has led to the hyper growth, hyper-scaling and seemingly infinite demand for Forter’s service.
To view Forter’s session, purchase a full access pass which will allow you to view all plenary sessions (keynotes and fireside chats), spotlight company presentations and dynamic sector overviews, participate in invitation-only roundtable discussions, and book one-on-one meetings. You can also register for the plenary pass at no cost to view our incredible lineup of keynote speakers.