Bureau secures $30 million from Sorenson Capital, PayPal Ventures, existing investors
Identity verification startup Bureau has secured $30 million in a fresh equity funding round led by US venture firm Sorenson Capital and PayPal Ventures.
Existing investors Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital and XYZ Ventures also participated in the round.
While this is primarily a fresh infusion into the company, there is a small secondary component where some of Bureau’s early investors and employees have sold their shares. This round takes the overall funding raised by the company to around $50 million.
The funds will be used to build new products, strengthen the technology stack, and also focus on expanding operations outside India, Bureau CEO Ranjan R. Reddy told ET.
“We are focused on building tools which can help brands collect data in a compliant fashion, run analytics on those data sets by using artificial intelligence and advanced tools,” he added.
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