Bureau Secures $30 Million in Series B Funding

Bureau, a fraud prevention and identity solutions provider, has successfully raised $30 million in its Series B funding round. The round was led by Sorenson Capital, a US-based venture capital firm managing $1.5 billion in assets, with additional support from PayPal Ventures and existing investors including Quona Capital, Commerce Ventures, GMO Venture Partners, Village Global, and XYZ Ventures.

Founded in 2020 and headquartered in San Francisco, Bureau specializes in offering a comprehensive risk intelligence platform. Key features of its platform include onboarding compliance, money mule detection, transaction monitoring, behavioral biometrics, and fraud ring detection. Bureau claims that its proprietary identity knowledge graph holds over "half a billion identities and behavioural patterns," providing "real-time risk intelligence across the entire customer lifecycle."

The company plans to use the funds to support two main expansion initiatives. According to Bureau, these initiatives will focus on enhancing its data and AI capabilities to increase "decision efficiency," and driving geographic expansion beyond its current concentration in Asia.

"Bureau's platform enables businesses to proactively detect fraud and ensure compliance, and we are thrilled to support their growth as they scale globally," said a Bureau spokesperson in a statement.