Bureau raises $30m in Series B round led by Sorenson Capital

By Gloria Mathias

Risk intelligence platform Bureau has raised $30 million in Series B to combat the exponential rise in sophisticated fraud attacks worldwide.

The round was led by Sorenson Capital with participation from PayPal Ventures and continued support from Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures. The funding will accelerate the Bureau’s product expansion into new use cases and geographical expansion to several new markets worldwide to meet a significant surge in global demand.

“As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud,” said Ranjan Reddy, CEO and Founder. Money mule accounts, deepfake identities, account takeovers, and payment fraud have surged with sophisticated AI-powered tools, impacting every corner of the digital economy. Bureau’s proprietary technology, powered by Graph Neural Networks, neutralises these threats to the digital economy.

Traditionally, compliance, fraud, security, and credit risks have been siloed in companies and served by multiple-point solutions in each domain. Bureau’s platform brings together device intelligence, behavioural AI, identity data, and predictive modelling to deliver contextual fraud prevention that goes beyond traditional rule-based systems.

“Bureau utilises a unique combination of device, behaviour, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users,” said Rob Rueckert, a Partner at Sorenson Capital. “By preventing fraud while avoiding any harm to customer retention, revenue, and growth, Bureau is truly differentiated in the vast and significant fraud-prevention space, and the proof is in their success.”

The funding will support two key expansion initiatives: enhanced data and AI capabilities to improve decision efficiency and coverage and geographical expansion to serve more markets globally. Bureau’s current focus has been on Asia, and this round will fuel its expansion to additional regions, enabling more businesses worldwide to access its comprehensive fraud prevention capabilities.

“In an era where AI-powered fraud threatens the digital economy, the Bureau’s focus will remain on improving digital trust by protecting and accelerating customer journeys,” added Ranjan Reddy. The future of fraud is AI-powered. Now, with the Bureau, the future of prevention is, too.”