Risk Intelligence Platform Sees 3x Revenue Growth Amid Surge in Sophisticated Fraud Attacks
Risk Intelligence Platform Sees 3x Revenue Growth as the Surge in Sophisticated Fraud Attacks Drive Demand for AI-Powered Prevention.
AI isn’t just making fraud smarter – it’s making it nearly impossible to catch. With global losses hitting $486 billion annually, Bureau today announced $30 million in Series B to level the playing field. A leading risk intelligence platform, which has seen its revenue grow 3x since its last fundraise, is arming businesses with AI to combat the exponential rise in sophisticated fraud attacks worldwide.
About the Funding
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.
Founder’s Mission
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.
Bureau’s Technology
“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.
What Sets Bureau Apart
“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.”
Impact and Expansion
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.
Conclusion
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. The future of fraud is AI-powered. Now, with Bureau, the future of prevention is, too.
FAQs
Q: What is Bureau’s proprietary technology?
A: Bureau’s proprietary technology is powered by Graph Neural Networks, which neutralizes threats to the digital economy.
Q: What sets Bureau apart from other fraud prevention solutions?
A: Bureau utilizes a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users.
Q: What are the key expansion initiatives with the new funding?
A: The funding will support enhanced data and AI capabilities to improve decision efficiency and coverage, and geographical expansion to serve more markets globally.
Q: What is Bureau’s current focus?
A: Bureau’s current focus has been on Asia, but this round will fuel its expansion to additional regions, enabling more businesses worldwide to access its comprehensive fraud prevention capabilities.
Q: What is the significance of Bureau’s funding?
A: 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.
