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Pindrop Security Raises $75 Million to Up Its Fight Against Phone Fraud

Pindrop Security, a startup focused on combating phone-based fraud, announced that it has raised $75 million in a Series C funding round led by Google Capital, bringing the total raised by the company to $122 million.

The Atlanta, Georgia-based company provides solutions that help detect and block phone-based fraud. The company explains that by integrating voice biometrics, its technology can match voice signatures to identify a caller, with “phoneprinting”, which analyzes the entire audio spectrum of a call to identify indicators of attack, including Caller ID spoofing, risky callers and call origin locations, suspicious call characteristics and callers with poor reputations.

Pindrop Security LogoThe company says that currently protects the phone calls of three of the four largest banks in the United States as well as many insurance companies, government agencies, and retailers.

The company’s algorithms are based on research originally developed at the Georgia Tech Information Security Center.

Pindrop raised $1 million in a Seed round in 2012, followed by an $11 million Series A round in 2013, and has also received grants from the National Science Foundation SBIR program, GRA’s VentureLab and funding from the Technology Association of Georgia.

Today’s funding announcement comes just under a year after the company announced raising $35 million in a Series B round in February 2015.

 GV, Andreessen Horowitz, IVP, Citi Ventures and Felicis Ventures, also participated in the latest round.

“As voice commands become the standard across intelligent assistants, cars, and the Internet of Things, Pindrop is creating the leading authentication and security solution for this exploding market. We are excited to be an investor based on the company’s momentum, unique technology and large market opportunity, ” Gene Frantz, partner at Google Capital, said in a statement.

“Working closely with Google Capital gives us amazing access to their expertise in phone and voice related technologies,” said Vijay Balasubramaniyan, Pindrop CEO and co-founder. 

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For more than 10 years, Mike Lennon has been closely monitoring and analyzing trends in the enterprise IT security space and the threat landscape. In his role at SecurityWeek he oversees the editorial direction of the publication and manages several leading security conferences.