Serena Williams Funds Retail Fraud Data Firm Lillii RNB

In the US retail fraud prevention and data services firm Lillii RNB has raised $3m in a seed round, co-led by tennis star Serena William's venture management fund Serena Ventures, along with Aperture Venture Capital.

Atlanta, GA-based Lillii RNB ('Let's Imagine Life with Ladies In IT') offers a proprietary solution called Freeing Returns, which uses machine learning and artificial intelligence to identify the fraud and loss hidden in retailer's own data. Through graph-link analysis, the firm examines this data and the relationships that exist in it, then links disparate data sources into a single view to reduce the time spent searching.

Barbara Jones-Brown, founder and CEO of Lillii RNB, comments: 'Closing our pre-seed round of funding in 2021, and now successfully closing our seed round, are huge testaments to the progress we've made and the momentum we're building. With this capital and the support of top-notch investors, Lillii RNB is one step closer to helping retailers and business owners turn the tables on bad actors and focus on growing their businesses'.

In 2017, Williams became a Board Member of DIY online research platform SurveyMonkey (now known as Momentive), and two years later, she launched her own VC firm.

Web site: www.lilliirnb.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.