Fraud detection startup Verisoul on Tuesday announced raising $8.8 million in a Series A funding round that brings the total raised by the company to over $12 million.
Founded in 2022, Austin, Texas-based Verisoul has built an all-in-one fraud detection platform that tackles bots, duplicate accounts, and fraudsters.
The company’s solution covers a user’s entire journey to build a holistic profile for them, based on real-time behavior, device, and network data, combined with ID verification and email intelligence.
Verisoul uses AI models to analyze invisible forensics, evaluate them against customer-specific rules, and apply a ‘Real’, ‘Suspicious’, or ‘Fake’ label to users, accounts, and transactions.
The company says it can detect device and location spoofing, multi-account abuse, anonymized connections, and AI bots, and can also validate email addresses and phone numbers, and verify user IDs and match their faces with selfies.
The Verisoul Series A funding round was led by High Alpha, with additional support from Lookout Ventures, Bitkraft Ventures, and Future Back Ventures.
The startup will use the funds to hire new talent, accelerate product development, and scale its go-to-market efforts.
“Fake users are overwhelming the internet, and AI is making the problem exponentially worse. We started Verisoul to stop fraud at every moment throughout the user journey — empowering companies of all sizes and in all industries to ensure users are real, unique, and trusted,” Verisoul co-founder and CEO Henry LeGard said.
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