buguroo has secured USD 11 million in Series A funding to bring its Deep Learning based online fraud detection and prevention technology to more financial services customers.
Cybersecurity-focused venture capital firm Ten Eleven Ventures (headquartered in Silicon Valley, California) and Spain- and Latin America- focused venture capital firm Seaya Ventures (headquartered in Madrid, Spain) led the Series A round. Existing investors Inveready Technology Investment Group and Conexo Ventures also participated.
Currently, buguroo technology protects financial services customers in Europe and Latin America from login to logout. With the new Series A investment, the company will expand its sales and marketing efforts in these regions as well as in new geographies, with particular focus on the US, UK, France and Germany.
By collecting thousands of parameters relating to the customer’s behavioural biometrics and environment, including smartphone and mouse movements, keystrokes, device profiling, and geolocation and malware records, buguroo is able to create a unique “cyber profile” for each user – a digital DNA – that stops fraudsters from impersonating financial services customers online and manipulating accounts.
To find out more about buguroo’s services and offering, please visit our dedicated web fraud & e-identity company database.
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