Source: National Cyber Security – Produced By Gregory Evans
Powered by Max Banner Ads Pindrop Security recently raised $35 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 new investor Institutional Venture Partners (IVP), values Pindrop at more than $200 million, another source said. Pindrop declined comment. 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).” Pindrop has raised about $12 million so far. Investors include Redpoint Ventures, Felicis Ventures, Sigma Partners, New World Ventures, Webb Investment Network and GRA Venture Fund. Menlo Park, Calif.-based IVP is a later stage venture […]
For more information go to http://www.NationalCyberSecurity.com, http://www. GregoryDEvans.com, http://www.LocatePC.net or http://AmIHackerProof.com
The post Pindrop Security raises $35M, plans to add 100 jobs appeared first on National Cyber Security.
View full post on National Cyber Security