Pindrop Raises $90 Million Series D to Fuel Global Expansion
Leader in Voice Security and Identity for Call Centers Broadens Its Focus to Address International Expansion, IoT Devices and Telcos
Pindrop, the leader in voice security and authentication, announced it has closed $90M in Series D funding led by Vitruvian Partners. Other new strategic investors include Allegion Ventures, Cross Creek, Dimension Data, Singapore-based EDBI, and Goldman Sachs. Existing investors CapitalG, IVP, Andreessen Horowitz, GV (formerly Google Ventures) and Citi Ventures also invested in the round.
“Our broad range of investors collectively view Pindrop as the established industry leader for securing the future of voice as it moves beyond the voice channel and towards voice-enabled devices,” said Vijay Balasubramaniyan, Co-Founder, CEO and CTO of Pindrop. “This investment enables us to quickly boost our advancements in consumer IoT and voice technology while also continuing to strengthen our market leading solutions for anti-fraud and authentication solutions for the global enterprise.”
Pindrop is leading the way towards a future of secure, trusted, and convenient voice interactions. In doing so, the company has built the leading technology in voice biometrics security. Through expanding market penetration, Pindrop will build additional products and continue to develop partnerships with global channels, telecommunications leaders, and consumer IoT organizations.
The company has seen significant growth and traction, including:
- 8 of the 10 largest banks and 5 of the 7 largest insurance companies in the U.S. are Pindrop customers
- 137% compounded annual growth rate (CAGR) in revenue over the last three years
- Currently protects over 200 million consumer accounts and has stopped over $350 million in voice-based fraud and attacks in 2018
- Expected triple digit growth in EMEA Bookings in 2019
- 118% net revenue retention with existing customers, in line with the top 15 public companies
Pindrop has also added world-class members to the management team, including:
- Burney Barker as Chief Revenue Officer (previously Gigamon, Dell EMC and VCE)
- Jeff Hodges as Chief Financial Officer (previously Kabbage, Official Payments, and Firethorn)