Inscribe, a San Francisco, CA-based fraud detection and document automation platform, announced that it raised $25 million in Series B funding to help companies build digital trust by pioneering risk intelligence.
Threshold Ventures led the round and joined by existing investors Crosslink Capital, Foundry, and Uncork Capital. Angel investors, including Box co-founder Dylan Smith and Intercom co-founder Des Traynor, also participated in the round.
The new funding will support Inscribe's impressive growth, hiring goals, and state-of-the-art innovations in fraud detection.
This round of funding brings the company's total funding to $38 million, and it comes on the heels of a 3x year-over-year increase in ARR and a 4x year-over-year increase in monthly usage.
"We set out to help solve the uncertainty faced by risk teams everywhere by building artificial intelligence based on the heuristics used by manual review teams. So for the first time ever, they can build digital trust by quickly analyzing billions of data points with a high degree of accuracy and uncovering insights that were previously invisible to the human eye. Technologies that make what's invisible, visible (like the telescope, the microscope, the x-ray) have always moved society forward in very powerful and important ways," said Inscribe co-founder and CEO Ronan Burke. "Our mission at Inscribe is to create a fair and efficient financial services ecosystem. We've started by building best-in-class document fraud detection so companies can uncover the risk intelligence they need to build digital trust with customers. And this is only the beginning."
Companies like TripActions, Ramp, and General Services Corporation (GSC) are now using the company's software.
Company: InscribeAI, Inc.
Round: Series B
Funding Month: January 2023
Lead Investors: Threshold Ventures
Additional Investors: Crosslink Capital, Foundry, and Uncork Capital
Company Website: https://www.inscribe.ai/
Software Category: Fraud Protection Software
About the Company: Founded in 2017, Inscribe is a fraud detection and document automation platform that helps manage risk by enabling teams to detect fraud, automate processes, and understand creditworthiness. Inscribe is on a mission to create a fair and efficient financial services ecosystem that grants more access to “thin file” customers (who have traditionally been left behind) while keeping fraudsters out. Inscribe is trusted by leading fintechs like TripActions, Plaid, Bluevine, and Ramp and is headquartered in San Francisco, CA.