Key Takeaway: Shape Security, which became a unicorn last month after raising $183 million to date, has developed an AI-powered engine that helps distinguish humans from bots and protects businesses from an increasing threat of cyberattacks. It is now one of the fastest-growing companies in the U.S. When Chipotle customers across the country complained this […]

Anti-fraud startup Shape Security has tipped over the $1 billion valuation mark following its latest Series F round of $51 million. The Mountain View, Calif.-based company announced the fundraise Thursday, bringing the total amount of outside investment to $183 million since the company debuted in 2011. C5 Capital led the round, along with several other new and returning investors, including Kleiner Perkins, HPE Growth and Norwest Ventures Partners. Shape Security protects companies against automated and imitation attacks, which often employ bots to break into networks using stolen or reused credentials. Shape uses artificial intelligence to discern bots from ordinary users by comparing known information such as a user's location, and collected data, like mouse movements, to shut down attempted automated logins in real time.

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Castle, a San Francisco-based startup that wants to help businesses keep their customers' online accounts safe from fraud, has raised $9.2 million in a series A round of funding from Index Ventures, with participation from Y Combinator, First Round Capital, F-Prime Capital Partners, and a host of individual angel investors. Founded in 2015, Castle works with web and app developers looking to offer greater security inside their consumer-facing apps. Castle's technology helps prevent all manner of account takeover (ATO) efforts, whether through manual attempts or automated methods, including credential stuffing. In 2017, identify fraud cost 17 million U.S. consumers $17 billion, according to a report by Javelin Strategy & Research, with "account takeover" making up more than $5 billion of the losses. A separate report last year by Shape Security noted that credential stuffing, specifically, costs U.S. businesses around $5 billion a year.