Sift (also known as Sift Science) was founded in 2011 by Brandon Ballinger and Jason Tan. In April 2022, CEO Marc Olesen declined to say whether or not the company has immediate plans to go public, but did remark that CFO Eu-Gene Sung brings valuable experience with taking companies through a growth phase.
Sift is a fraud prevention company whose platform helps online merchants assess and minimize risk during digital transactions. As of February 2023, the company counts DoorDash, Poshmark, Zoosk, and Hello Fresh among its customers. In 2021, the company acquired Chargeback and Keyless. Sift, a Y Combinator company, has raised more than $150 million in venture capital funding from investors including Union Square Ventures, Stripes, and Insight Partners. Following a $50 million fundraise in 2022, Sift announced that its valuation had surpassed $1 billion.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.