Pindrop snags major investment for global expansion
Voice security and authentication specialist, Pindrop, has closed a £70 million Series D funding round led by Vitruvian Partners. This takes the company’s total funding to £163 million.
Other new strategic investors include Allegion Ventures, Cross Creek, Dimension Data, Singapore-based EDBI, and Goldman Sachs. Existing backers, CapitalG, IVP, Andreessen Horowitz, GV (formerly Google Ventures) and Citi Ventures also took part in the round. The venture will use the cash to expand in the UK and Europe.
Also of interest: Retailers hit hard by phone channel fraud, Pindrop
“Our broad range of investors collectively view us as the established industry leader for securing the future of voice as it moves beyond the voice channel and towards voice-enabled devices,” says Vijay Balasubramaniyan, Co-Founder, CEO and CTO at Pindrop, which works with the likes of Lloyds Banking Group and Shop Direct in the UK to protect customers from fraud over the phone.
“This investment enables us to quickly boost our advancements in consumer IoT and voice technology while also continuing to strengthen our market leading solutions for anti-fraud and authentication solutions for the global enterprise.”
“One of our key goals is to help leading high-growth companies like Pindrop grow in Europe and internationally,” comment David Nahama, Senior Partner at Vitruvian Partners. “We are confident that Pindrop is poised for massive expansion given the company’s depth of engineering expertise, pioneering efforts in machine learning technology and patent portfolio.”