Pindrop Security recently raised more than $30 million in venture capital as it gears up for global expansion, Atlanta Business Chronicle has learned.
The Atlanta startup, backed by Citi Ventures and Andreessen Horowitz, has developed phone fraud-busting technology to address a multi-billion dollar problem. Nearly 30 percent of all identity thefts in the U.S. start with a phone call.
Pindrop plans to add about 100 jobs, according to a source. The Series B round, led by a new West Coast investor, values Pindrop at more than $200 million, another source said. Pindrop declined comment.
Pindrop’s CEO, Vijay Balasubramaniyan and Chairman, Paul Judge.
The size of the Series B funding suggests Pindrop is gearing up to go after large customers or markets, and it needs to bulk up sales and marketing, said Avivah Litan, vice president and distinguished analyst at Gartner.
“Pindrop needs to make more people aware of the technology,” Litan said. “You don’t want to be a supply driven company, you don’t want to (adopt a) build-it-and-they’ll-come (growth strategy).”
