Pindrop Security, an Atlanta, GA-based provider of phone fraud prevention and call center authentication solutions, closed $35m in Series B financing.
The round was led by Institutional Venture Partners with participation from existing backers Andreessen Horowitz, Citi Ventures, Felicis Ventures, Redpoint Ventures and Webb Investment Network. In conjunction with the funding, Somesh Dash, a general partner at IVP, will join Pindrop Security’s board of directors.
Led by Paul Judge, Ph.D., executive chairman, and Vijay Balasubramaniyan, Ph.D., CEO, Pindrop Security provides enterprise solutions to secure phone and voice communications. Its Phoneprinting technology can identify, locate and authenticate phone devices from the call audio thereby detecting fraudulent calls as well as verifying legitimate callers. The company’s solutions aim to reduce fraud losses and authentication expense for banks, brokerages and retailers.