Fraud protection & verification platform Bureau raised $16.5 M Series A funding
To bring its Series A funding round to a close at $16.5 million, the verification and fraud protection platform Bureau has raised an additional $4.5 million from GMO VenturePartners, GMO Payment Gateway, and existing investors.
The startup has now received $20.5 million in total funding as of the most recent round. In December 2021, the startup raised $12 million in the first phase of a Series A round that was led by Quona Capital.
Reddy founded Bureau in 2020 with the goal of assisting businesses in automating decision-making, acquiring loyal clients, preventing fraud, and enhancing user experiences.
The startup, which has offices in Bengaluru, Singapore, and Dubai in addition to its San Francisco headquarters, asserts that over 300 million identities have been verified on its platform, increasing its revenues by a factor of six in the past year.
Along with closing the funding round, Bureau also completed the acquisition of inVOID, a startup that was supported by YC for identity verification. By utilizing this, Bureau hopes to improve its global reach, expand the range of its IP, and broaden its technological foundation.
A $4 million seed funding round was co-led by US-based WestWave Capital and Benhamou Global Ventures in April for the automation identity and access management (IAM) governance company Stack Identity.
