Overwatch raises $15M Series A led by Mouro Capital to track AI-driven fraud and cybercrime

Overwatch has raised a $15 million Series A led by Mouro Capital, Fortune reported on 26 October. Visa Ventures and Capital One Ventures joined, alongside earlier backers PruVen Capital, New Era Capital Partners and Y Combinator. The valuation was not disclosed.

The New York company was founded in 2022 by CEO Arjun Bisen, a former Australian diplomat who worked on the country's cyber engagement strategy, and Zara Perumal. It uses AI agents to detect digital threats and sells to payments and fintech firms including Visa, Capital One, Cash App, SoFi, Stripe and DoorDash.

Bisen says the silos between cybersecurity, money laundering and fraud have disappeared. Fortune cited one threat actor that launched more than 100 attack campaigns in about five days, compromised 27 payment sites and allegedly harvested details from more than 600,000 cards.