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Charm Security Raises $8M to Transform Fraud Prevention with Psychological Insights and AI
- Charm Security raises $8M in seed funding to tackle fraud prevention by focusing on human vulnerabilities and psychological patterns.
- The company analyzes scams, identifies psychological patterns, and uses real-time AI interventions to disrupt fraudulent activities before financial harm occurs.
- Charm Security offers an AI-powered customer security platform to prevent scams, social engineering, and human-centric fraud for financial institutions and digital platforms.
- The company targets financial institutions, banks, and digital platforms in a market that faces global losses exceeding $1.03 trillion to scams.
- Charm Security operates as a B2B and B2B2C business, providing AI-powered solutions to protect organizations and their customers from fraud.
- The company prepares for potential economic slowdowns by addressing increased fraud and scam activities during downturns.
- Charm's funding was led by Team8's Venture Creation Fund, leveraging a structured process to streamline fundraising and align interests.
- Charm Security plans to achieve milestones like expanding the team, enhancing scam prevention models, and forging strategic partnerships in the next six months.
- Companies without fresh capital are advised to focus on market validation and efficient resource management to attract funding, even in challenging times.
- Charm Security aims to impact organizations globally by scaling its platform, building partnerships, and reducing fraud losses while enhancing customer security.
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