Risk intelligence platform Bureau has raised $30m in a Series B funding round led by venture capital firm Sorenson Capital to bolster its artificial intelligence (AI)-driven fraud prevention capabilities.
The funding round also had participation from PayPal Ventures and the risk intelligence platform’s existing investors, including Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.
According to Bureau, global fraud losses have climbed to $486bn annually, fuelled by sophisticated AI-driven threats that challenge traditional detection methods.
The funding will enable Bureau to expand its product offerings to address new use cases and extend its geographical reach to meet growing global demand.
Bureau’s revenue has tripled since its last fundraising round, said the company.
The company stated that fraud tactics such as money mule accounts, deepfake identities, account takeovers, and payment fraud have surged due to advancements in AI technology.
Bureau’s proprietary platform, powered by Graph Neural Networks, counters these threats by integrating device intelligence, behavioural AI, identity data, and predictive modelling.
The platform delivers real-time risk intelligence throughout the customer lifecycle, providing businesses with a unified solution for fraud prevention.
Bureau’s identity knowledge graph now encompasses over half a billion identities and behavioural patterns, allowing it to detect fraud rings, prevent account takeovers, and identify synthetic identities.
Unlike traditional rule-based systems that rely on multiple data sources and complex integrations, Bureau consolidates these functions into a single no-code platform. Its privacy-first architecture uses tokenised identities, ensuring compliance while protecting consumer data.
Bureau CEO and founder Ranjan Reddy said: “As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud.”
The new funding will support the platform’s continued evolution, focusing on enhancing its data and AI capabilities and expanding its presence in markets beyond Asia, where it currently operates.
Bureau offers solutions for customer onboarding, account monitoring, device intelligence, behavioural biometrics, and transaction monitoring. Its innovative Identity Bureau Network provides actionable insights.
