Lowenstein represented Alloy, the leading identity decisioning platform for banks and fintech companies, in its latest fundraise of $52 million, led by Lightspeed Venture Partners and Avenir Growth with participation from existing investorsCanapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures. The funding brings the company's valuation to $1.55 billion and will help Alloy accelerate its growth to address the global demand for fraud prevention tools.
Founded in 2015, Alloy has grown to meet the rising demand for identity tools that help companies fight fraud and stay compliant while onboarding new customers in the US and abroad. Earlier this month, the company announced its global expansion into 40 countries across North America, EMEA, LATAM, and APAC. Over the past 12 months, Alloy has seen revenue more than double. The company currently serves banking and fintech companies including Ally Bank, HMBradley, Gemini, Ramp and Evolve Bank & Trust, processing over a million decisions daily.
About Lowenstein Sandler LLP
Lowenstein Sandler LLP is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.