Pindrop Security announces $35 million fundraising round
16 March 2015 12:31 GMT

Pindrop has said that its technology is 99 percent accurate in identifying the type of device on which the call is made.

Atlanta-based anti-caller fraud and voice biometrics firm Pindrop Security has raised $35 million in venture capital as part of plans for global expansion.

Led by a new West Coast investor, the Series B round of funding values Pindrop at more than $200 million. The firm now plans to add 100 staff.

Pindrop uses a patented Phone-printing technology combined with voice biometrics to prevent fraud losses and lower authentication expenses.

“Over six billion individuals across the globe have access to a phone, yet there has been little security innovation in phone or voice,” said Somesh Dash, general partner at IVP. “Pindrop has revolutionized phone and call center security and is poised for impressive growth. Already Pindrop is protecting hundreds of millions of bank and retail customers.”

Pindrop has said that its technology is 99 percent accurate in identifying the type of device on which the call is made and more than 90 percent accurate in identifying the country of origin, preventing fraudsters from using the internet to spoof caller IDs.