Georgia-based anti-fraud software start-up Pindrop has raised $90m in a series D funding round led by Vitruvian Partners. The latest cash injection will help to advance the company's IoT voice technology which runs in the background of calls and monitors information such as location, device type, time of day, behaviour and voice to authenticate a caller's identity. Pindrop, founded in 2013, is one of several startups that are trying to solve some of the biggest problems facing mobile phone users today. With an estimated $14bn lost to call centre phone fraud in 2018, a 113% YoY increase, anti-fraud software will continue to be big business.
Georgia-based anti-fraud software start-up Pindrop has raised $90m in a series D funding round led by Vitruvian Partners. The latest cash injection will help to advance the company's IoT voice technology which runs in the background of calls and monitors information such as location, device type, time of day, behaviour and voice to authenticate a caller's identity. Pindrop claims to save $500,000 from fraud for every 1 million calls. With an estimated $14bn lost to call centre phone fraud in 2018, a 113% YoY increase, anti-fraud software will continue to be big business.