FraudMetrix

About FraudMetrix

Beijing Shumei Times Technology Co., Ltd., which operates as FraudMetrix (and more commonly as Shumei Technology), was established in June 2015 to provide AI-driven business risk control services. The company's inception is directly linked to the experiences of its founder and CEO, Tang Huijun. After earning a Master's degree from Nankai University, Tang embarked on a distinguished career at major Chinese tech firms. He first joined Baidu, where he quickly ascended the technical ranks to become the Chairman of the System Technology Committee. Subsequently, he served as the Chief Architect and Senior Technology Director at Qihoo 360, spearheading their big data, cloud, and artificial intelligence divisions. The catalyst for founding Shumei Technology came in 2015 during the peak of the O2O (Online-to-Offline) boom, which led to a surge in online fraud and malicious activities as companies heavily subsidized users. Recognizing the growing threat of these organized "black-hat" industries, Tang leveraged his extensive background in big data and security to create a specialized third-party risk management provider.

Shumei Technology operates on a Software-as-a-Service (SaaS) model, generating revenue based on the volume of API calls from its clients. The company serves a diverse client base that spans from its initial focus on internet companies to traditional sectors like finance, banking, aviation, retail, real estate, and gaming. Its clientele includes prominent names such as Industrial and Commercial Bank of China (ICBC), UnionPay, Air China, and iQIYI. The firm has established a global SaaS AI risk control network with deployments across China, Southeast Asia, North America, and Europe.

The company's core offerings are consolidated into two main product lines: "Tianwang" (SkyNet) and "Tianjing" (SkyClean). "Tianwang" is a full-stack business risk control system designed to combat issues like marketing fraud, transaction risks, data scraping, and fraudulent advertising. "Tianjing" focuses on content security, utilizing AI to detect and filter harmful or illicit content across text, images, audio, and video formats to ensure regulatory compliance and operational efficiency. The company has continually evolved its technology, recently announcing the integration of a "Large Model Audit Agent" into its risk control framework, creating a three-pronged approach of AI machine auditing, the agent, and human expert decision-making. This robust product suite has attracted significant venture capital, with investors including Tencent, Baidu Ventures, Sequoia China, and Qihoo 360, culminating in a $135 million Series D funding round in April 2021.