SAN FRANCISCO — AI isn’t just making fraud smarter – it’s making it nearly impossible to catch. With global losses hitting $486 billion annually, Bureau announced $30 million 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.
For founder and CEO Ranjan Reddy, the mission is personal. After falling victim to cyber fraud himself, he built Bureau to transform how businesses verify digital identities and detect fraud. Through his experience building Qubecell and Boku Identity, Reddy recognized that “Who are you?” and “Can I trust you?” are fundamental questions every digital company must answer at each step of the customer journey.
“As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud,” explained Ranjan Reddy, CEO and Founder. Money mule accounts, deepfake identities, account takeover, and payment fraud have surged with sophisticated AI-powered tools, impacting every corner of the digital economy. Bureau’s proprietary technology, powered by Graph Neural Networks, neutralizes these threats to the digital economy.
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.
“Bureau utilizes a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users,” said Rob Rueckert, a Partner at Sorenson Capital. “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.”
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.
