Neuroid 35m Series Canapi Ventureshalltechcrunch

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Fraud Analytics Platform ‘Neuro-ID’ Gets Fresh Round of Funding

Neuro-ID has changed the way fraud analytics and fraud prevention are done. It captures the real-time information of the customer, and it helps the organization understand the customer’s intent. The tool is especially useful with the ID Crowd Alert mechanism that alerts the organization about critical changes in the crowd’s behavior. The tool can also help the organization defend itself from bad actors, frauds, and bots. Another advantage of Neuro-ID is that it is able to optimize fraud screening and help them with better conversion rates.

What is Neuroid 35m Series Canapi Ventureshalltechcrunch ?

Due to its innovative solutions, Neuro-ID is gaining much positive attention. In a Series B round of funding, Neuro-ID received $35M. A year before, Neuro-ID also received its first $7M in Series A funding. With this, the total funding received by Neuro-ID has reached a mark of $49.5M. These numbers are surely excellent considering that the Neuro-ID was founded in 2014.

Neuroid 35m Series Canapi Ventureshalltechcrunch

In the latest Series B round, Canapi Venture emerged as a leader. However, you must note that apart from Canapi Ventures, the funding was also provided by old investors like TTV Capital and Fin VC. Neuro-ID has not revealed the total valuation of the organization, but the CEO of Neuro-ID shared that he is expecting a four-fold growth in revenue and customer base. Presently, Neuro-ID serves customers like Elephant Insurance, Affirm, Intuit, OppFi, and Square. In an article, Christine Hall also revealed that Neuro-ID had improved the customer conversion rate of these organizations by up to 200%.

The newly infused funds will help Neuro-ID in improving its solutions and also enhance the development rate of its offerings. It is interesting to know that Neuro-ID uses a combination of traditional models and ML-AI to identify customer intent. Such solutions are the future of the decision-making process for small and large-scale industries. So neuroid 35m series canapi ventureshalltechcrunch means Neuro-ID takes in fresh capital to combat fraud .