Pindrop, an Atlanta-based startup specializing in preventing identify theft and voice fraud, has secured $75 million in funding in a round led by Google Capital.
Founded in 2011, Pindrop has built a solid reputation on its so-called “acoustic fingerprinting” technology that integrates with companies’ internal systems and identifies people’s voices, locations, and devices. This is added to a database for future reference and to help separate legitimate callers from scammers. Pindrop said that its technology is currently used by three of the four largest banks in the U.S., alongside insurance firms, retailers, and government agencies.
Having the might of Google behind it is a significant step for the company. “Working closely with Google Capital gives us amazing access to their expertise in phone and voice-related technologies,” said Vijay Balasubramaniyan, Pindrop CEO and cofounder. “Voice is the future ,and today’s investment will help accelerate our global expansion and allow us to invest more dollars into research and development as we continue building the definitive platform that enables security, trust, and identity in the voice world.”
Pindrop had raised $45 million before today’s announcement, including a hefty $35 million round last February. Though this is Google Capital’s first cash injection into Pindrop, existing investors such as Andreessen Horowitz and Institutional Venture Partners also participated, alongside Google Ventures (GV).
Voice is playing an increasingly integral role across a number of industries, extending well beyond call-centers to include home appliances, cars, apps, and a myriad of “Internet of Things” products that utilize human voice commands. So it’s clear there are many potential use-cases for voice-fraud prevention now and in the future.