Bureau Raises $30 Mn Series B Funds From Sorenson Capital, Others

AI based risk intelligence platform Bureau has raised $30 million in Series B funding round led by Sorenson Capital, a US venture firm and PayPal Ventures.

The round also saw participation from GMO Venture Partners, Village Global, Quona Capital, Commerce Ventures and XYZ Ventures.

Funding Utilisation

Bureau said in a press release that the funds will be used to improve its product offerings, hire more talent, grow its go-to-market team, and expand its reach to support global financial ecosystems.

This funding mainly adds new capital to the company, but a small portion involves Bureau's early investors and employees selling some of their shares. With this round, the total funding raised by the company reaches about $50 million.

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Ranjan R. Reddy, CEO at Bureau, said,  “We are focused on building tools which can help brands collect data in a compliant fashion, run analytics on those data sets by using artificial intelligence and advanced tools,”

Reddy also shared that the company is currently operating in five countries outside of India, which together contribute to less than 50% of its business. However, this share is expected to increase as Bureau focuses on driving more growth internationally while still being optimistic about opportunities within the Indian market.

Rob Rueckert, a partner at Sorenson Capital, said, “Bureau utilises a unique combination of device, behaviour, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users. By preventing fraud while avoiding any harm to customer retention, revenue, and growth, Bureau is truly differentiated in the vast and significant fraud-prevention space, and the proof is in their success.” 

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Bureau serves clients in banking, financial services, e-commerce, payments, and marketplace businesses. The company is also seeing increased demand in sectors like quick commerce, the gig economy, insurance, and gaming, where identity verification has become crucial for their operations.

About Bureau

Founded in 2020 by Ranjan R Reddy, Bureau is an AI-powered platform based in Bengaluru that offers real-time fraud prevention throughout the entire customer journey, going beyond traditional rule-based systems.

Its unique identity knowledge graph, which includes over half a billion identities and behavioural data, provides valuable risk insights and intelligence. Bureau serves global companies in banking, fintech, gaming, e-commerce, and consumer internet platforms.

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