Cybersecurity startup Bureau raises $30M from Sorenson Capital, PayPal, to combat identity fraud and expand globally

Bureau, a cybersecurity startup focused on user identity fraud prevention, has secured $30 million in a Series B funding round led by Sorenson Capital. The round also included participation from PayPal Ventures, Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures, valuing the company at approximately $150 million.

The new funding will enable Bureau to enhance its product offerings, grow its team, and expand operations into Saudi Arabia, North America, and Mexico. The company also plans to strengthen its sales and marketing efforts to meet increasing demand and support global financial ecosystems in combating fraud.

Founded in 2020 by Ranjan Reddy, Bureau leverages AI-driven tools to deliver real-time fraud prevention across the customer lifecycle. Its platform uses a proprietary identity knowledge graph, integrating data from over half a billion identities and behavioral patterns, to provide actionable insights.

“As cyber fraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud. The investment from Sorenson Capital and PayPal Ventures validates our revolutionary approach to fraud prevention and accelerates our mission to protect businesses and consumers worldwide,” Reddy told Reuters.

Bureau’s solutions cater to industries including banking, fintech, gaming, e-commerce, and consumer internet platforms. Key features include money mule detection, account takeover prevention, fraud ring detection, onboarding compliance, and decision workflow tools. Among its notable innovations is the Money Mule Score, which identifies individuals potentially involved in fraudulent financial activities, such as money laundering.

With global fraud losses exceeding $5 trillion annually—a sharp 56% rise over the past decade—the need for effective fraud prevention tools is more urgent than ever. The market is expected to grow from $44 billion to $255 billion by 2032, highlighting significant opportunities in the space. In India, the fraud prevention market is valued at $7.3 billion, fueled by increasing cases of money mule fraud, scams targeting Unified Payments Interface (UPI) payments, and other forms of identity theft.

“Bureau utilizes a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users,” said Rob Rueckert, a partner at Sorenson Capital. “By preventing fraud while avoiding any harm to customer retention, revenue, and growth, Bureau is truly differentiated in the vast and significant fraud-prevention space, and the proof is in their success.”

Bureau’s clients include India’s ride-hailing service Rapido and IDFC First Bank. As cybersecurity threats continue to target major corporations such as Microsoft, UnitedHealth Group, and Walt Disney, businesses are increasingly relying on Bureau’s technology to safeguard their operations.

Currently employing 85 people, Bureau plans to expand its workforce to 120 by the end of 2025, with a focus on hiring machine learning engineers and data scientists to further enhance its AI capabilities. The startup’s ongoing growth and commitment to innovation position it as a key player in the global fight against digital fraud.