US-based cybersecurity software developer Pindrop Security has increased a series C round led by Google Capital, the growth equity subsidiary of internet technology group Alphabet, to $80.8m according to a securities filing.
Pindrop closed the first tranche of the round at $75m in January this year. Other participants include another Alphabet subsidiary, GV, and Citi Ventures, the venture capital unit owned by financial services provider Citi, as well as Andreessen Horowitz, Felicis Ventures and Institutional Venture Partners (IVP).
The company provides software that helps prevent phone-based fraud by identifying, locating and authenticating phone devices using only audio.
The Phoneprinting technology is used by call centres in banks, insurers, brokerages and retailers, and Pindrop claims it detects more than 80% of phone fraud.
Pindrop has now raised a total of approximately $127m since it was founded in 2011. It secured $35m in a February 2015 series B round featuring Citi Ventures, IVP, Andreessen Horowitz, Felicis, Redpoint Ventures and Webb Investment Network that valued it at $200m, according to the Atlanta Business Chronicle.