Choice Hotels International Inc
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Consumer Discretionary : Hotels, Restaurants & Leisure | Mid Cap Growth
Company profile

Choice Hotels International, Inc. is a hotel franchisor. The Company's segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection. The Company had 6,514 hotels open and 775 hotels under construction, awaiting conversion or approved for development, as of December 31, 2016, representing 516,122 rooms open and 62,547 rooms under construction, awaiting conversion or approved for development in 50 states, the District of Columbia and over 40 countries and territories outside the United States. Its domestic franchising operations are conducted through direct franchising relationships, while its international franchise operations are conducted through a combination of direct franchising and master franchising relationships.

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EverCompliant Raises $35M Series B, Rebrands as EverC

7:30 am ET September 10, 2020 (BusinessWire) Print

EverCompliant, a global provider of Online Data Intelligence to detect and prevent Online Money Laundering (Transaction Laundering) has raised a $35 million Series B funding round to meet growing demand from banks, credit card companies, payment processors, payment facilitators, online marketplaces, and law enforcement agencies. The company has also rebranded as EverC to better align its name with a broader mission to reduce online crime and empower e-Commerce growth by leveraging its intelligence capabilities.

Red Dot Capital Partners, an Israel-based early growth-stage venture capital firm, led the round. Maor Investments joined the round, as did the company's existing backers, among them Joey Low, Viola Ventures, Arbor Ventures, and American Express Ventures.

While global e-Commerce volume was already rising pre-COVID 19, the pandemic has accelerated the adoption of digital payments. With this rapid increase comes a simultaneous increase in criminal activities online. Recent high profile cases have only highlighted what has already become an unprecedented level of online money laundering. According to EverC's calculations, some $500 billion is laundered annually through fraudulent e-Commerce transactions. Furthermore, according to the company, there are 6 to 10 million online merchants that are currently using the payment system to process transactions without the knowledge or consent of the financial institution they are processing through.

"Many types of serious criminal activities are trying to hide behind legitimate-looking facades that are very difficult to track and unmask, digital technology has made it easier for potential fraudsters to hide in plain sight," said Ron Teicher, EverC's co-founder and CEO. "We believe that light is the best disinfectant and transparency and visibility are critical in doing business in the digital age. EverC aspires to be a source of confidence for organizations who facilitate payments online, providing them the tools, data, and insights needed to navigate risk and capitalize on new opportunities."

"As commerce moves increasingly online so does the crime associated with it. EverC is at the forefront of machine learning and AI research to develop technology that addresses a problem of epic magnitude, with a direct impact on the wellbeing of all of us," said Barak Salomon, Managing Partner at Red Dot Capital Partners. Mr. Salomon joins EverC's board.

"We are grateful to Red Dot and our existing investors for their continued trust and support, to our customers and partners who continue to challenge us every day and partner with us to allow for safe and clean eCommerce, and most importantly to our amazing employees who work tirelessly to advance our important mission," Teicher added.

About EverC

Founded by Ron Teicher, Noam Rabinovich and Raz Abramov, EverC is the pioneer and industry leader in electronic money laundering detection and prevention (also known as Transaction Laundering.) EverC uses artificial intelligence and machine learning to assess and drive insights from hundreds of millions of domains. These insights shine a light on hidden risks associated with online entities and reveal new opportunities to scale businesses efficiently and confidently. EverC's products MerchantView(TM) for detection of online money laundering and MarketView(TM) for keeping marketplaces clean from illegal products, have been adopted by the top financial institutions and payment service providers, including Fortune 500 companies in North and South America, EMEA and Asia Pacific. EverC is headquartered in New York City with offices in Tel Aviv and Shanghai.

About Red Dot Capital Partners

Red Dot Capital Partners is an Israel-based early growth-stage venture fund investing in breakout technology companies. Red Dot supports its portfolio companies in identifying and navigating expansion opportunities in fast developing markets and within its LP's networks and businesses - with a focus on SE Asia and Japan.

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