ROCKY HILL, Conn., June 13, 2018 /PRNewswire-PRWeb/ -- Connecticut
Innovations (CI), Connecticut's
strategic venture capital arm and the leading source of financing
and ongoing support for innovative, growing companies, announced
that Paygilant, an Israel-based
fraud protection company for mobile payments, has been selected as
the recipient of the early-decision award for VentureClash 2018.
The inaugural award allows Paygilant to move directly to the
semifinalist round of the challenge.
To be considered for this award, candidates had to submit their
first-round application by the April
15 early-decision deadline. Additionally, applicants had to
meet all other criteria for the competition. The early-decision
award winners also gain access to the second-round application
weeks before all other applicants.
"This year, we launched the early-decision award to highlight a
company that we identify early in the process to show real
potential," said Matt McCooe, CEO of
Connecticut Innovations. "After taking a closer look at Paygilant,
we're thrilled to have them in the competition, and we look forward
to learning more about them throughout the process."
"We are honored to be included in the VentureClash 2018
challenge," said Ziv Cohen, CEO of
Paygilant. "Our solution helps organizations control risk, minimize
friction and reduce fraud with their mobile channels. With
Paygilant, financial institutions, e-commerce organizations and
e-wallet providers are better situated to capture revenue
opportunities and compete more effectively in the marketplace."
VentureClash is Connecticut's
$5 million global venture challenge
for early-stage companies in digital health, financial technology,
insurance technology and the Internet of Things. Applications for
the first round of VentureClash 2018 close Friday, June 8.
For more information on qualifications, requirements, guidelines
and application, visit https://ventureclash.com.
About VentureClash
Managed by Connecticut Innovations, VentureClash is Connecticut's global venture challenge focused
on early-stage companies. The challenge identifies high-potential
companies in digital health, fintech, insurtech and the Internet of
Things that will receive investments from a $5 million investment award pool. Learn more at
https://ventureclash.com.
About Connecticut Innovations Inc.
Connecticut Innovations (CI) is Connecticut's strategic venture capital arm
and is the leading source of financing and ongoing support for
innovative, growing companies. CI provides venture capital and
strategic guidance for early-stage technology companies, and
connections to its well-established network of partners and
professionals. For more information, visit
http://ctinnovations.com.
About Paygilant
Founded in 2014, Paygilant works with all payments ecosystem
stakeholders to detect and prevent mobile payments fraud. Utilizing
patent-pending technology, Paygilant's detection models run
on-device or in the cloud, making contactless and mobile payments
easy and secure, increasing customer loyalty and reducing friction.
Paygilant's advanced algorithms combine deep inspection of the
mobile device with analysis of historical data patterns to detect
new account fraud, transaction fraud and account takeover
schemes.
Paygilant is the recipient of an EU Commission Horizon 2020
grant, and an alumnus of the Citi Innovation Lab, IBM Alpha Zone
and MasterCard Challenge. http://www.paygilant.com
SOURCE Connecticut Innovations, Incorporated