PayPal (NASDAQ: PYPL) subsidiary PayPal Ventures recently joined a $30 million Series B funding round for Bureau, an AI-driven fraud prevention and risk intelligence platform, according to a press release on Dec. 18, 2024. The funding round, led by Sorenson Capital, also saw contributions from Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.
Bureau has achieved a threefold increase in revenue since its last funding round, a testament to the growing demand for advanced fraud prevention technology. The new funding will support Bureau’s product development and global expansion to tackle increasingly sophisticated cyber threats.
In the press release, Bureau founder and CEO Ranjan Reddy highlighted the company’s mission: “Bureau was born from my experience as a victim of cyber fraud. We’re building the most comprehensive, proactive solution to secure the digital customer journey.” Bureau’s platform integrates device intelligence, behavioral AI, identity data, and predictive modeling, empowering businesses to counter fraud across the customer lifecycle. Its identity knowledge graph now encompasses over 500 million identities and behavioral patterns.
Sorenson Capital Partner Rob Rueckert, quoted in the release, noted, “Bureau uses a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users.”
As of Dec. 23, 2024, PayPal Holdings traded at $86.50 per share, reflecting a 0.73% decline from the previous close. The stock’s intraday range spanned from $85.99 to $87.40.
PayPal Ventures’ investment underscores its focus on fostering innovation in digital payments security, reaffirming its role in addressing the global challenge of cyber threats.
To view the company’s latest earnings release, visit https://ibn.fm/AVBKR
About PayPal Holdings Inc.
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling and shopping simple, personalized and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit www.PayPal.com.
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