Pindrop Security, an Atlanta-based provider of enterprise and carrier solutions that detect and block phone-based fraud, has closed a $1m seed funding round.
Backers include Andreessen Horowitz, GRA Venture Fund, New World Ventures, Sigma Partners, and Webb Investment Network, angel investors Paul Bricault, Kevin Donahue, and Ben Ling and additional Atlanta backers Flashpoint, Mark Buffington of Buckhead Investment Partners, and Tal Cohen.
The company plans to use the funds to scale customer acquisition and expand product development.
Co-founded by CEO Dr. Vijay Balasubramaniyan, Dr. Paul Judge, Dr. Mustaque Ahamad and Dr. Patrick Traynor, Pindrop Security has developed acoustical fingerprinting technology that detects fraudulent calls and authenticates legitimate callers, helping customers eliminate financial losses and reduce operational costs.
The company has begun deploying the following products to customers:
– Phone Reputation Service – a threat intelligence service that includes a detailed database of fraudulent callers as well as analysis and predictive tools to track phone number reputation;
Fraud Detection System – technology that analyzes phone calls to identify fraud by determining the true geographic origin and phone type.