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Risk intelligence platform startup Bureau Inc. announced today that it has raised $30 million in new funding to accelerate product expansion into new use cases and new markets.
Bạn đang xem: Bureau secures $30M to expand risk intelligence platform and global reach
Founded in 2020, Bureau offers a no-code identity decisioning platform designed to help businesses prevent fraud, ensure compliance and enhance user experiences. The company’s solutions span customer onboarding, account monitoring, device intelligence, behavioral biometrics and transaction monitoring.
Founder and Chief Executive Officer Ranjan Reddy who was previously involved in startups such as Qubecall Ltd. and Boku Identity Inc., founded Bureau after becoming a victim of cyber fraud. As the company tells the story, Reddy recognized that “Who are you?” and “Can I trust you?” are fundamental questions every digital company must answer at each step of the customer journey.
Bureau’s offering differs from traditional risk intelligence providers by unifying compliance, fraud, security and credit risk management into a single platform. It leverages device intelligence, behavioral artificial intelligence, identity data and predictive modeling to deliver advanced, contextual fraud prevention that surpasses rule-based systems, according to the company.
The unified platform replaces the need for multiple vendor integrations, multiple data application programming interface outputs and complex rules engines. Bureau’s capabilities include money mule detection, account takeover prevention, fraud ring detection, onboarding compliance and decisioning workflows.
Bureau’s platform has found success in banking, fintech, gaming and e-commerce, where companies face sophisticated cyberthreats and increasing regulatory pressures. Use cases among existing clients include detecting collusion in gaming platforms through behavioral AI, preventing synthetic identity fraud in neobanks and enabling secure lending to new-to-credit customers through improved risk profiling.
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The Series B round was led by Sorenson Capital Partners LP, with PayPal Ventures and previous investors Commerce Ventures, GMO Venture Partners Co. Ltd., Village Global LP, Quona Capital Management Ltd. and XYZ Ventures also participating.
“Bureau utilizes a unique combination of device, behavior, financial and partner data to quickly block scammers without creating deal-breaking headaches for users,” said Rob Rueckert, partner at Sorenson Capital. “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.”
Including the new funding, Bureau has raised $50.7 million to date across four rounds of funding.
Image: Bureau
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