Bureau Secures $30M in Series B Funding to Combat Rising Global Cyberfraud The company also aims to address critical challenges in regions like India, where fraud prevention is a $7.3 billion market plagued by rising incidents of UPI payments fraud and identity theft.
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Bureau, a leading risk intelligence platform revolutionizing digital fraud prevention, has raised $30 million in a Series B funding round. The investment was spearheaded by Sorenson Capital, with additional backing from PayPal Ventures and continued support from Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.
Ranjan R Reddy's Bureau is addressing an escalating global fraud crisis. With fraud losses now exceeding $5 trillion annually—a 56 per cent increase in just a decade—the need for innovative solutions has never been greater. Bureau's AI-powered platform delivers real-time, contextual fraud prevention across the customer lifecycle. Leveraging a proprietary identity knowledge graph comprising over half a billion identities and behavioral data, the company provides actionable insights for industries such as banking, fintech, e-commerce, and gaming.
Bureau's solutions go beyond traditional rule-based systems, offering advanced capabilities like money mule detection, fraud ring identification, account takeover prevention, and onboarding compliance.
"As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud," said Ranjan Reddy, Founder and CEO of Bureau. "This investment validates our revolutionary approach and accelerates our mission to protect businesses and consumers worldwide."
The raised capital will fuel Bureau's plans to expand its product portfolio, enhance talent acquisition, and scale its go-to-market efforts globally. The company also aims to address critical challenges in regions like India, where fraud prevention is a $7.3 billion market plagued by rising incidents of UPI payments fraud and identity theft.
Rob Rueckert, a partner at Sorenson Capital, emphasized Bureau's differentiated approach stating, "Bureau utilizes a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users."
As the fraud prevention industry is projected to grow from $44 billion to $255 billion by 2032, Bureau's role in safeguarding global financial ecosystems becomes increasingly vital.
