Pindrop Security, an Atlanta, GA-based developer of solutions for phone fraud prevention and call center authentication for banks and enterprise call centers, closed an $11M Series A financing.
The round was led by Andreessen Horowitz and Citi Ventures, with participation from new investors Redpoint Ventures and Felicis Ventures and existing backer Webb Investment Network (WIN). In conjunction with the funding, Scott Weiss, general partner at Andreessen Horowitz, will join the board of directors.
The company intends to use the capital to add resources in engineering, operations, sales and marketing in the US, Canada and Europe.
Led by Vijay Balasubramaniyan, co-founder and CEO, Pindrop Security provides solutions that combines authentication and anti-fraud detection technology to verify legitimate callers while detecting malicious callers. The company’s Acoustic Fingerprinting™ technology analyzes and fingerprints individual phone calls, providing the caller’s true location and calling device and matching them to its CallDNA™ fraud database.