AI isn’t just making fraud smarter – it’s making it nearly impossible to catch. With global losses hitting $486B annually, Bureau today announced $30M in Series B to level the playing field. A leading risk intelligence platform, which has seen its revenue grow 3x since it’s last fundraise, is arming businesses with AI to combat the exponential rise in sophisticated fraud attacks worldwide.
The round was led by Sorenson Capital with participation from PayPal Ventures and continued support from Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures. The funding will accelerate Bureau’s product expansion into new use-cases, and geographical expansion to several new markets worldwide to meet a significant surge in global demand.
Traditionally, compliance, fraud, security, and credit risks have been siloed in companies and served by multiple point solutions in each domain. 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. The company’s proprietary identity knowledge graph now contains over half a billion identities and behavioral patterns, providing real-time risk intelligence across the entire customer lifecycle.
What typically would require several vendor integrations, multiple data API outputs, and complex rule engines can now be accomplished through one platform. Bureau’s comprehensive capabilities span money mule detection, account takeover prevention, fraud ring detection, onboarding compliance, and decisioning workflows. Unlike other solutions that act as data brokers, Bureau shares decisions rather than consumer data, with tokenized identities built into its privacy architecture.
The platform has proven particularly valuable for banking, fintech, gaming, and e-commerce companies facing sophisticated cyber threats and increasing regulatory pressures. Results demonstrate its impact across use cases – from detecting collusion in gaming platforms through behavioral AI, to preventing synthetic identity fraud in neobanks, to enabling secure lending to new-to-credit customers through improved risk profiling. As a result, Bureau has earned recognition as a top global leader in preventing fraud by Liminal.
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’s current focus has been on Asia, and this round will fuel its expansion to additional regions, enabling more businesses worldwide to access its comprehensive fraud prevention capabilities.
Bureau raises $30M Series B as global fraud losses hit $486B
Posted in Commentary with tags Bureau on December 18, 2024 by itnerdAI isn’t just making fraud smarter – it’s making it nearly impossible to catch. With global losses hitting $486B annually, Bureau today announced $30M in Series B to level the playing field. A leading risk intelligence platform, which has seen its revenue grow 3x since it’s last fundraise, is arming businesses with AI to combat the exponential rise in sophisticated fraud attacks worldwide.
The round was led by Sorenson Capital with participation from PayPal Ventures and continued support from Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures. The funding will accelerate Bureau’s product expansion into new use-cases, and geographical expansion to several new markets worldwide to meet a significant surge in global demand.
Traditionally, compliance, fraud, security, and credit risks have been siloed in companies and served by multiple point solutions in each domain. 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. The company’s proprietary identity knowledge graph now contains over half a billion identities and behavioral patterns, providing real-time risk intelligence across the entire customer lifecycle.
What typically would require several vendor integrations, multiple data API outputs, and complex rule engines can now be accomplished through one platform. Bureau’s comprehensive capabilities span money mule detection, account takeover prevention, fraud ring detection, onboarding compliance, and decisioning workflows. Unlike other solutions that act as data brokers, Bureau shares decisions rather than consumer data, with tokenized identities built into its privacy architecture.
The platform has proven particularly valuable for banking, fintech, gaming, and e-commerce companies facing sophisticated cyber threats and increasing regulatory pressures. Results demonstrate its impact across use cases – from detecting collusion in gaming platforms through behavioral AI, to preventing synthetic identity fraud in neobanks, to enabling secure lending to new-to-credit customers through improved risk profiling. As a result, Bureau has earned recognition as a top global leader in preventing fraud by Liminal.
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’s current focus has been on Asia, and this round will fuel its expansion to additional regions, enabling more businesses worldwide to access its comprehensive fraud prevention capabilities.
Leave a comment »