Bureau Secures $30 Million in Series B Funding Led by Sorenson Capital
- ByStartupStory | December 20, 2024
San Francisco-based risk intelligence platform Bureau, focused on combating digital fraud, has raised $30 million in its Series B funding round led by Sorenson Capital. The round saw participation from PayPal Ventures, alongside existing investors Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.
The fresh infusion of funds will be utilized to expand Bureau’s product portfolio, strengthen talent acquisition, scale its go-to-market team, and broaden its geographical presence. This will enable the company to further its mission of empowering global financial ecosystems in the fight against fraud.
Earlier in 2023, Bureau raised $16.5 million during its Series A funding round. Founded in 2020 by Ranjan R Reddy, the platform leverages AI to deliver real-time, contextual fraud prevention across the customer lifecycle, surpassing traditional rule-based systems.
“As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud. The investment from Sorenson Capital and PayPal ventures validates our revolutionary approach to fraud prevention and accelerates our mission to protect businesses and consumers worldwide,” said Ranjan R Reddy, Founder & CEO of Bureau.
The platform combines device, behavior, financial, and partner data to swiftly block scammers without disrupting the user experience. Highlighting the company’s innovative approach, Rob Rueckert, a Partner at Sorenson Capital, stated:
“Bureau uses a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users. By preventing fraud while avoiding any harm to customer retention, revenue, and growth, Bureau is truly differentiated in the vast and significant fraud-prevention space, and the proof is in their success.”
Bureau currently serves over 150 clients across industries such as banking, fintech, gaming, e-commerce, and consumer internet platforms.
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