Bureau, a Bengaluru-based risk intelligence platform, has announced the successful closure of its $30 million Series B funding round, led by Sorenson Capital. The funding also saw participation from PayPal Ventures and existing investors, including Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.
This new round follows Bureau’s earlier $20.7 million raise from its current investor pool, underscoring strong investor confidence in the platform’s vision and capabilities.
The capital will be strategically deployed to enhance Bureau’s product offerings, recruit top talent, scale its go-to-market team, and broaden its geographic footprint. These efforts aim to empower global financial ecosystems with cutting-edge fraud prevention and compliance solutions.
Innovating Fraud Prevention with AI
Founded in 2020 by Ranjan R Reddy, Bureau utilizes artificial intelligence to deliver real-time, contextual fraud prevention across the entire customer lifecycle. The platform’s proprietary identity knowledge graph encompasses over half a billion identities and behavioral data points, offering enterprises actionable risk intelligence and insights.
Bureau’s solutions are tailored to a wide array of industries, including banking, fintech, gaming, e-commerce, and consumer internet platforms. Its advanced capabilities include money mule detection, account takeover prevention, fraud ring detection, onboarding compliance, and decision-making workflows.
Addressing a Growing Market Need
Global fraud losses have skyrocketed past $5 trillion annually, marking a 56% surge in the past decade. The fraud prevention market, valued at $44 billion, is expected to grow to $255 billion by 2032. Bureau’s comprehensive platform equips organizations to meet these challenges by navigating complex compliance requirements while ensuring a seamless experience for legitimate customers.
By preventing fraud and safeguarding customer retention, Bureau helps businesses protect revenue and foster growth. This dual focus on security and customer experience sets it apart from competitors like IDfy, SpringVerify, AuthBridge, Digio, and Perfios-owned Karza.
With its latest funding and innovative approach, Bureau is poised to further transform how global enterprises address fraud, compliance, and risk management, driving secure and sustainable growth in an increasingly digital world.
