Pindrop Security raises $11M from A16Z and others to help prevent phone fraud

When it comes to online security, often times the greatest vulnerabilities aren’t technical, but human. Unfortunately, social engineering can be the hardest type of attack to prevent. It was the method behind the catastrophic hacking of Wired reporter Mat Honan, the exploits of the Syrian Electronic Army, and the cyber-espionage by China’s People’s Liberation Army.

Three year old startup Pindrop Security has developed solutions to a specific class of these attacks, specifically phone fraud. The company uses proprietary acoustic fingerprinting technology to assist corporations and call centers in authenticating the caller on the other end of the line, and in turn limiting the chance of phone-based social engineering.

Today, the Atlanta-based company announced $11 million in Series A funding led by Andreessen Horowitz and Citi Ventures, with participation from new investors Redpoint Ventures and Felicis Ventures, as well as Pinpoint’s Seed round lead Webb Investment Network. The round brings the company’s total funding to $12 million. Andreessen Horowitz partner Scott Weiss, who was previously a director at Silver Tail Systems and an executive at Ironport, will join the company’s board of directors.

Read Full Article on PandoDaily

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading posts...