Friss, a fraud detection specialist, is acquiring Polonious.
Friss develops fraud detection and prevention software. Insurers use the technology to calculate risks and prevent fraud. Today, Friss announced the acquisition of Polonious. Polonious develops fraud investigation and case management software, including administrative automation.
According to Friss, Polonious holds valuable data and fraud scenarios. With the acquisition, Friss hopes to offer more support to claims and fraud investigation departments of private investigation companies.
Friss grows internationally
Friss, founded in the Netherlands, has expanded to over 40 countries in the years since its inception (2006). Last summer, the organization fetched a growth capital of 60 million euros, made possible by American investor Accel-KKR, among others. Two months earlier, Friss announced the acquisition of Terrene Labs, an industry peer in the US. Polonious is active in the United States as well, which undoubtedly contributes to Friss’ interest.