Pindrop Security bags USD1 million for mobile fraud protection

Scaling customer acquisition and expanding product development

Pindrop Security, a mobile fraud protection provider, has landed USD1 million in seed funding from Andreessen HorowitzGRA Venture FundNew World VenturesSigma PartnersWebb Investment Network and a group of angel investors. The company is using the investment to scale customer acquisition and expand product development. Atlanta-based Pindrop offers an advanced caller ID that helps to detect phone fraud by identifying the device used, ID, call path and geographic point of origin. The firm mainly operates in the financial services, telecommunications, healthcare and e-commerce sectors.

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