Pindrop raises $90m to bring voice security tech to IoT devices

Pindrop raises $90m to bring voice security tech to IoT devices

Pindrop, a voice security and authentication provider for call centres, has raised $90 million in a Series D funding round joined by Goldman Sachs and Citi Ventures.

The round was led by Vitruvian Partners and joined by Allegion Ventures, Cross Creek, Dimension Data, EDBI, CapitalG, IVP, Andreessen Horowitz and GV (formerly Google Ventures).

Pindrop's technology creates an 'audio fingerprint' of each call by analysing more than 100 unique call features - such as location, background noise, number history and call type - to highlight unusual activity, identify potential fraud and stop criminal callers.

Founded in 2011, the firm now counts eight of the largest 10 banks and five of the seven biggest insurance companies in the US among its clients, protecting more than 200 million consumer accounts.

The new funding will be used for international expansion, with a particular focus on the UK - where Vitruvian Partners is based - and the rest of Europe as well as Asia.

But Pindrop is also looking to move beyond call centres into the Internet of Things, securing voice-assisted smart devices ranging from the Google Home to smart locks to connected cars.

Vijay Balasubramaniyan, CEO, Pindrop, says: "This investment enables us to quickly boost our advancements in consumer IoT and voice technology while also continuing to strengthen our market leading solutions for anti-fraud and authentication solutions for the global enterprise."
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