Pindrop Makes a Bang in Latest Funding Round

“The investors are evidently excited about Pindrop’s enterprise security technology, which is designed to use a range of metrics to detect potential fraud in inbound calls, including metadata such as geolocation, background noise, and even voice recognition. “

Pindrop has brought in $90 million in its latest funding round, the company has announced.

The round was led by Vitruvian Partners, and brought in new investors including Allegion Ventures, Cross Creek, Dimension Data, EDBI, and Goldman Sachs. Returning investors who further contributed in the series-D funding round included Andreessen Horowitz, CapitalG, Citi Ventures, GV, and IVP.

The investors are evidently excited about Pindrop’s enterprise security technology, which is designed to use a range of metrics to detect potential fraud in inbound calls, including metadata such as geolocation, background noise, and even voice recognition. This enthusiasm is also reflected in growing market traction for Pindrop, which reports that it has seen a 137 percent compounded annual growth rate over the last three years, and that it expects triple-digit growth in its EMEA business for 2019.

In the US, the company says that it counts eight of the 10 largest banks and five of the seven largest insurance companies among its clients.

News of Pindrop’s latest successful funding round arrives after a series-C round brought in $75 million when it closed near the start of this year. Commenting on his firm’s investment in a statement, Vitruvian Partners Senior Partner David Nahama said, “We are confident that Pindrop is poised for massive expansion given the company’s depth of engineering expertise, pioneering efforts in machine learning technology and patent portfolio.”

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December 5, 2018 – by Alex Perala