Cybersecurity
Nest, iPod Creator Fadell Backs His First Cybersecurity Startup
- CashShield uses high-speed algorithms to combat online fraud
- GGV-backed firm plans to raise up to $50 million more
Tony Fadell
Photographer: Christophe Morin/Bloomberg
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Every time someone uses a smartphone to buy a gaming mouse or laptop from Razer Inc.’s website, an algorithm from an obscure Singapore startup is checking across 1,000 data points to work out if it’s a fraud.
The type of device accessing the site, a user’s timezone and shopping patterns are all analyzed in real time by CashShield and its database to work out whether the transaction should be stopped. It’s an approach that has attracted some high profile backers, from a unit of Singapore’s state-owned investor Temasek Holdings Pte to Tony Fadell, who rose to fame for his role in developing Apple Inc.’s iPod.