Bureau Takes In $30 Million

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; AI isn’t just making fraud smarter – it&&num;8217&semi;s making it nearly impossible to catch&period; With global losses hitting <a title&equals;"&dollar;486B" href&equals;"https&colon;&sol;&sol;www&period;globenewswire&period;com&sol;Tracker&quest;data&equals;N4vz4rTq6Q75AB2jTYA9UnRaEeQipkPW5VF3t9QvFePEPvf2enb-wIUZevGD-CsuB-AVpRzuZ1ZrRJdw&lowbar;PDkawmOYMpG-eB057AKw2iOK5pafsrWcl-zwzdVKU6e&lowbar;hox4bTPdW7UoW5AlavLp3Y&lowbar;PlPgq8IZ3hHq3wxr3VvjXq-fwxGo&lowbar;Uges0j3XxYTPBqG" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">&dollar;486 billion<&sol;a> annually&comma; <a title&equals;"Bureau" href&equals;"https&colon;&sol;&sol;www&period;globenewswire&period;com&sol;Tracker&quest;data&equals;d3SFLrUv6Ju7uV2mzze-GiUjkp55v196DNcoIxkgyaWLmV1YfUmrqmTyYiUJ2L5KtT1S3FbWRQfLo3ttb6U3ATGUBPRvrOb697pBI6vOjKrQ4jrWhqbXl-nLajrwWqhe9lTub9bE45zIOLnWEAPC246IClh8A63dWvRgaZTTLYo&equals;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Bureau<&sol;a>  announced &dollar;30 million in Series B to level the playing field&period; A leading risk intelligence platform&comma; which has seen its revenue grow 3x since it’s last fundraise&comma; is arming businesses with AI to combat the exponential rise in sophisticated fraud attacks worldwide&period;<&sol;p>&NewLine;<p>The round was led by Sorenson Capital with participation from PayPal Ventures and continued support from Commerce Ventures&comma; GMO Venture Partners&comma; Village Global&comma; Quona Capital&comma; and XYZ Ventures&period; The funding will accelerate Bureau&&num;8217&semi;s product expansion into new use-cases&comma; and geographical expansion to several new markets worldwide to meet a significant surge in global demand&period;<&sol;p>&NewLine;<p>For founder and CEO Ranjan Reddy&comma; the mission is personal&period; After falling victim to cyber fraud himself&comma; he built Bureau to transform how businesses verify digital identities and detect fraud&period; Through his experience building Qubecell and Boku Identity&comma; Reddy recognized that &&num;8220&semi;Who are you&quest;&&num;8221&semi; and &&num;8220&semi;Can I trust you&quest;&&num;8221&semi; are fundamental questions every digital company must answer at each step of the customer journey&period;<&sol;p>&NewLine;<p>&&num;8220&semi;As cyberfraud reaches unprecedented levels&comma; Bureau stands at the forefront of the fight against digital fraud&comma;&&num;8221&semi;<strong> explained Ranjan Reddy&comma; CEO and Founder<&sol;strong>&period; Money mule accounts&comma; deepfake identities&comma; account takeover&comma; and payment fraud have surged with sophisticated AI-powered tools&comma; impacting every corner of the digital economy&period; Bureau&&num;8217&semi;s proprietary technology&comma; powered by Graph Neural Networks&comma; neutralizes these threats to the digital economy&period;<&sol;p>&NewLine;<p>Traditionally&comma; compliance&comma; fraud&comma; security&comma; and credit risks have been siloed in companies and served by multiple point solutions in each domain&period; Bureau&&num;8217&semi;s platform brings together device intelligence&comma; behavioral AI&comma; identity data&comma; and predictive modeling to deliver contextual fraud prevention that goes beyond traditional rule-based systems&period; The company&&num;8217&semi;s proprietary identity knowledge graph now contains over half a billion identities and behavioral patterns&comma; providing real-time risk intelligence across the entire customer lifecycle&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Bureau utilizes a unique combination of device&comma; behavior&comma; financial&comma; and partner data to quickly block scammers without creating deal-breaking headaches for users&comma;” said<strong> Rob Rueckert&comma; a Partner at Sorenson Capital<&sol;strong>&period; &OpenCurlyDoubleQuote;By preventing fraud while avoiding any harm to customer retention&comma; revenue&comma; and growth&comma; Bureau is truly differentiated in the vast and significant fraud-prevention space&comma; and the proof is in their success&period;”<&sol;p>&NewLine;<p>What typically would require several vendor integrations&comma; multiple data API outputs&comma; and complex rule engines can now be accomplished through one platform&period; Bureau&&num;8217&semi;s comprehensive capabilities span money mule detection&comma; account takeover prevention&comma; fraud ring detection&comma; onboarding compliance&comma; and decisioning workflows&period; Unlike other solutions that act as data brokers&comma;<br &sol;>&NewLine;Bureau shares decisions rather than consumer data&comma; with tokenized identities built into its privacy architecture&period;<&sol;p>&NewLine;