Bureau, a risk intelligence platform has raised $30 million in its Series B funding round led by Sorenson Capital. The round also saw participation from PayPal Ventures and existing investors including Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.
The funds raised will be used for product expansion into new use cases, and geographical expansion to several new markets worldwide to meet a significant surge in global demand.
The funding will support two key expansion initiatives: enhanced data and AI capabilities to improve decision efficiency and coverage, and geographical expansion to serve more markets globally.
Bureau had previously raised $20.7 million and since its last fundraise it has seen its revenue grow 3x.
“As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud. In an era where AI-powered fraud threatens the digital economy, Bureau’s focus will remain on improving digital trust by protecting and accelerating customer journeys,” said Ranjan Reddy, CEO and Founder.
“Bureau utilizes a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users. 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,” said Rob Rueckert, a Partner at Sorenson Capital.
Founded in 2020 by Ranjan R Reddy, Bureau is an AI-powered no-code identity decision-making platform that empowers businesses to prevent fraud, ensure compliance, and enhance user experiences.
With solutions spanning customer onboarding, account monitoring, device intelligence, behavioral biometrics, and transaction monitoring, Bureau offers comprehensive protection across the entire customer journey.
Bureau’s platform brings together device intelligence, behavioral AI, identity data, and predictive modeling to deliver contextual fraud prevention that goes beyond traditional rule-based systems.
Its proprietary Identity Bureau Network, powered by Graph Neural Networks, leverages contextualized data to provide actionable insights, helping businesses make informed decisions about digital identities. Bureau serves a wide array of industries, including banking, fintech, gaming, e-commerce, and consumer internet platforms.
