Bureau, a San Francisco, CA-based fraud and identity decisioning platform, has announced an additional $4.5 million in funding, completing its series A funding round at $16.5 million.
The additional investment was from GMO VenturePartners, GMO Payment Gateway, and existing investors. This brings the total funding for the startup to date to $20.5 million since its founding in 2020.
Bureau is a global identity decisioning platform for fraud prevention and compliance management. The Bureau risk orchestration platform is used by businesses in various industries, including banking, fintech, insurance, the gig economy, and real-money gaming, to manage compliance and prevent fraud throughout the customer journey.
“We founded Bureau to build a single source of digital trust, " said Ranjan Reddy, CEO and founder of Bureau. “Our identity decisioning platform is purpose-built to orchestrate massive, disparate data to recognise, structure, and amplify risk signals in milliseconds so that customers can reach an absolute decision in real time. The outcome is material. Working with us, companies know who their consumers are, who they say they are and that they have good intentions, while consumers know their digital identities and privacy are safe and secure.”
In addition to the funding round, Bureau has completed the acquisition of inVOID, a YC-backed identity verification startup, and eyes a strategic partnership with GMO Payment Gateway. Bureau intends to leverage this to enhance its global coverage, widen its IP scope and broaden its tech stack.
Company: Bureau, Inc.
Raised: $4.5M
Round: Extends Series A
Funding Month: July 2023
Lead Investors: GMO VenturePartners and GMO Payment Gateway
Additional Investors:
Company Website: https://www.bureau.id/
Software Category: Identity Verification Software
About the Company: Founded by Ranjan Reddy, Bureau is a modern no-code fraud, and identity decisioning platform. It delivers accurate conclusions about the trustworthiness of digital identities to prevent fraud and ease compliance, resulting in seamless digital journeys for legitimate customers. The single AI-architected platform provides banks, fintech, gaming, gig economy, and e-commerce companies with a complete range of identity verification, fraud prevention and detection, and risk and compliance solutions. Its Identity Bureau network supplies customers with a feedback loop about digital identities based on contextualized linkages. Headquartered in San Francisco, Bureau has offices in India, Singapore, and Dubai, serving a global customer base.
Source: https://newsdirect.com/news/fraud-and-identity-platform-bureau-extends-series-a-funding-to-16-5m-with-gmo-venturepartners-as-it-scales-globally-762667154