NoFraud Names Scott Gifis CEO to Lead Company as it Aims to Eliminate Fraud in eCommerce

Rhea-AI Summary

NoFraud has appointed Scott Gifis as its new CEO, effective immediately. Gifis has a strong track record leading high-growth companies, including Frame.io, which was acquired by Adobe for $1.3 billion. His vision for NoFraud focuses on enhancing the eCommerce experience by reducing friction and fraud, driving growth for merchants. Under his leadership, NoFraud aims to unveil a robust product pipeline and growth strategy in 2023, with existing clients, such as Sony and Monoprice, reporting up to a 5% sales increase post-implementation. Founder Isaac Gurary will transition to a board member role.

Positive

• Scott Gifis brings extensive leadership experience and a proven track record in high-growth environments.
• Gifis aims to strengthen NoFraud's market position in eCommerce fraud prevention.
• Merchants using NoFraud solutions report a 2-5% lift in sales and reduced fraud-related costs.

Negative

• None.

Gifis brings extensive experience leading high-growth companies, including Frame.io and AdRoll

NEW YORK, Feb. 23, 2023 /PRNewswire/ -- NoFraud, a premier provider of fraud prevention technology for eCommerce, today announced that Scott Gifis has been named as CEO. Gifis previously served as president and COO of Frame.io, which was recently acquired by Adobe for $1.3 billion, and as president of AdRoll.

Gifis brings deep experience setting business strategy and guiding day-to-day operations for high-growth companies and will set a bold vision for NoFraud's future as eCommerce continues to skyrocket. At its core, NoFraud empowers ambitious eCommerce merchants to grow with confidence, removing unnecessary friction and powering their path to purchase while working to protect them from fraud and related risks that plague their growth.

"It's a fascinating time in eCommerce – it has never been easier to create an online store, and yet the operational challenges that come with trying to grow and scale an online business have never been more complex. The last few years have seen incredible growth and with that some important opportunities have gone unmanaged, particularly within the purchase experience," said Gifis. "NoFraud has been flying under the radar for years, building one of the best kept secrets in eCommerce. Fundamentally, NoFraud is about removing friction and fraud from the bottom of the eCommerce funnel to deliver better experiences for shoppers and drive more sales with less headaches for merchants. I'm thrilled to be joining such an incredible company at such a compelling point in its growth and excited about where we go from here."            

Under Gifis' leadership, NoFraud is set to execute on a strong new product pipeline and growth strategy for 2023. Thousands of eCommerce merchants – from iconic brands like Sony and Monoprice to up-and-comers – are able to grow with confidence thanks to NoFraud's solutions. Merchants typically enjoy a 2-5% lift in sales once implementing NoFraud alongside greatly reducing fraud-related costs and chargebacks.

"We believe Scott is the ideal CEO for NoFraud at this important time in the company's history," said Adam Marcus, managing director at PSG. "He is an inspirational, visionary leader and his experience successfully scaling world-class, industry-leading technology companies speaks for itself. We are excited to partner with Scott for the next phase of growth at NoFraud."

As a proven leader, over the last 20 years Gifis has established experience building and leading companies from early stages to hundreds of millions in revenue and several successful exits. In addition to Frame.io and AdRoll, Gifis also previously held executive leadership roles at OpinionLab, which was acquired by Verint Systems (NASDAQ: VRNT), Criteo (NASDAQ: CRTO), Careerbuilder, and TeraSolar, which was sold in 2005.

NoFraud's co-founder and CEO, Isaac Gurary will be stepping down from day-to-day activities but will remain closely involved with the business as a board member and advisor.

About NoFraud
Founded in 2014, NoFraud is an eCommerce checkout and fraud prevention pioneer, ensuring every eCommerce merchant has access to the services and protection they need to scale with confidence. The company provides online merchants with cost-effective, easy-to-use solutions that remove friction and fraud from their eCommerce funnel to grow sales and improve the purchase experience for customers. NoFraud provides the industry's most accurate eCommerce fraud protection solutions to increase merchants' conversion and approval rates while virtually eliminating fraud. Visit www.nofraud.com for more information.

About PSG
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 115 companies and facilitated over 420 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.

 

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SOURCE NoFraud

FAQ

What is NoFraud's new CEO's background related to VRNT and CRTO?

Scott Gifis, the new CEO of NoFraud, has previously held leadership roles in companies like AdRoll and Frame.io, which was acquired by Adobe. He has also worked at OpinionLab, which was acquired by Verint Systems (NASDAQ: VRNT), and at Criteo (NASDAQ: CRTO).

How will Scott Gifis impact NoFraud's performance in 2023?

Scott Gifis plans to implement a strong product pipeline and growth strategy for NoFraud in 2023, aiming to enhance merchant sales and reduce fraud.

What sales improvements can NoFraud clients expect with the new leadership?

Merchants typically experience a 2-5% increase in sales after implementing NoFraud's fraud prevention solutions.

When was Scott Gifis appointed as CEO of NoFraud?

Scott Gifis was announced as NoFraud's CEO on February 23, 2023.