Pindrop Security Raises $11 Million, Led By Andreessen Horowitz
Pindrop Security is a company that helps prevent phone fraudsters from going after call centers and banks. Pindrop has raised $11 million in a new round of funding led by Andreessen Horowitz with participation from Citi Ventures, Redpoint, and Felicis Ventures. The company has plans to expand globally. Pindrop plans on using the funding to hire
Pindrop uses Acoustic Fingerprinting to detect fraudsters and their locations. Pindrop can even find out what devices the fraudsters are using. They are tracked in a database called CallDNA. Pindrop claims that they can pinpoint 80% of potential attackers on their first call.
Around one year ago, Pindrop raised a $1 million seed round from Andreessen, New World Ventures, Sigma Partners, and Kevin Donahue.
“Enterprises, and particularly financial institutions, are facing increasing volumes of attacks from sophisticated social-engineering operations,” stated Pindrop co-founder and chief executive officer Vijay Balasubramaniyan. “Pindrop’s solutions are the first tool for financial institutions and enterprises to detect and stop these attacks accurately and consistently on the first call. This investment will allow us to meet the tremendous market demand we’re experiencing.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry