Inscribe, a fraud detection and document automation platform, has recently scored $25m in Series B funding.
The round was led by Threshold Ventures and saw participation from investors such as Uncork Capital, Foundry, Crosslink Capital and a range of angel investors.
Founded in 2017, San Francisco-based Inscribe automates document reviews and improves fraud detection so that companies can improve efficiency and reduce operational costs.
According to Inscribe, the new funding will support Inscribe’s impressive growth, hiring goals, and state-of-the-art innovations in fraud detection. In addition to seeing a 3x increase in ARR and a 4x increase in monthly usage during 2022, Inscribe saw its customer base expand into new areas of financial services.
Inscribe CEO and co-founder Ronan Burke said, “We set out to help solve the uncertainty faced by risk teams everywhere by building artificial intelligence based on the heuristics used by manual review teams. So, for the first time ever, they can build digital trust by quickly analysing billions of data points with a high degree of accuracy and uncovering insights that were previously invisible to the human eye.
“Technologies that make what’s invisible, visible (like the telescope, the microscope, the x-ray) have always moved society forward in very powerful and important ways. Our mission at Inscribe is to create a fair and efficient financial services ecosystem. We’ve started by building best-in-class document fraud detection so companies can uncover the Risk Intelligence they need to build digital trust with customers. And this is only the beginning.”
Indian cybersecurity startup WhizHack recently secured pre-Series A funding up to $3m to boost its valuation to $40m.
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