Persona Intelligence Startup Deep Labs Secures $16mn

Persona based intelligence startup Deep Labs secured $16mn from Serendipity Capital, Gramercy Ventures and Gunnar Overstrom of Corsair Capital; the company analyzes transactions in context, taking into account factors such as someone being home with his or her family versus in the office or traveling for work; Deep Labs counts Visa, American Express, clear and the federal government as customers; they have also secured partnerships with Mastercard, NICE Actimize, Booz Allen Hamilton and General Dynamics Information Technology; “It’s quite easy to defeat fraud if all you want to do is simply decline every single transaction … but that introduces friction to the consumers and leads to things like card abandonment and grinds commerce to a halt,” Founder Scott Edington said to American banker. American Banker