Security startup Pondera Solutions announced it has raised a substantial round of Series A financing from Impact Venture Capital and Serent Capital. Specific terms of the financing were not disclosed.
Pondera Solutions was founded in 2011 with the goal of leveraging the power of cloud computing and advanced analytics to combat fraud, waste, and abuse in large government programs. Its system combines clients’ program data with third-party consumer and business data and runs every business, beneficiary, and transaction through a series of procedural and prediction models to identify problems.
“With security software that applies to over 2,000 government programs, Pondera’s impressive executive team has now positioned the company as the market leader in a fast-growing industry sector,” said Jack Crawford, general partner at Impact Venture Capital.