Summary: Bureau, a San Francisco-based company, has secured $30 million in Series B funding to enhance its platform for verifying customer identities and preventing online fraud. The funding will support the expansion of operations and development efforts to improve fraud detection capabilities.
Threat Actor: Bureau | Bureau
Victim: Online Businesses | Online Businesses
Key Point :
- Bureau raised $30 million in Series B funding led by Sorenson Capital.
- The company aims to enhance its fraud prevention platform using advanced technologies like behavioral AI and predictive modeling.
- Over 600 million identities have been verified through Bureau’s system for more than 150 customers.
- The proprietary identity knowledge graph contains over half a billion identities and behavioral patterns.
Bureau, a San Francisco, CA-based provider of a platform for businesses to verify customer identities and prevent fraud during online transactions, raised $30m in Series B funding.
The round was led by Sorenson Capital, with participation from PayPal Ventures and previous investors Commerce Ventures, GMO Venture Partners, and Village Global.
The company intends to use the funds to expand operations and its development efforts.
Led by founder and CEO Ranjan Reddy, Bureau provides a platform to remove risk and block fraud concurrently, to spot abuse, monitor transactions, and rely on seamless identity verification.
The platform brings together device intelligence, behavioral AI, identity data, and predictive modeling to deliver contextual fraud prevention that goes beyond traditional rule-based systems. The company’s proprietary identity knowledge graph now contains over half a billion identities and behavioral patterns, providing real-time risk intelligence across the entire customer lifecycle.
According to Reddy, the system has verified more than 600 million identities on behalf of more than 150 customers.
FinSMEs
19/12/2024
Source: https://www.finsmes.com/2024/12/bureau-raises-30m-in-series-b-funding.html
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