The phrase “you could hear a pin drop” refers to a space being so quiet that even the smallest of noises can be clearly heard.
Ironically, voice authentication and security solutions provider Pindrop has made quite a big announcement; hard to miss, in fact.
But first, some context:
Pindrop’s journey technically started back in 2010. Its founder, Vijay Balasubramaniyan, was traveling in India. At the time, he tried to order a new suit from a local tailor, but his bank flagged the international transaction as “highly suspicious.” Balasubramaniyan obviously called to verify the purchase, but the bank encountered major difficulty; his identity couldn’t be proven over the phone, so his order was cancelled.
It's moments like these, for some people, that stir mild-to-sizeable levels of frustration before the dust settles, matters are sorted out and folks simply move on.
Not Balasubramaniyan, though.
For him, this was a catalyst.
Soon, Balasubramaniyan vowed to find a much better way to navigate authentication protocols).
And so, Pindrop was born.
Pindrop’s M.O. is simple – consistently bring security, identity and trust to voice interactions. By elevating voice security with what Pindrop defines as “advanced liveness detection,” trust in voice communications can be strengthened. This applies doubly in our modern age, when combatting audio deepfakes and circumventing voice-related fraud is an absolute must.
For more detailed info on Pindrop’s solutions and how they transform experiences with voice and supportive smart device interactions, read here.
That’s the overall context. Now, the big announcement we mentioned:
Pindrop has secured $100 million in financing. This funding, according to the official release, “will enable Pindrop to further develop its cutting-edge audio, voice, and AI technologies, enhancing its offerings for customers in the banking, finance, contact center, insurance, utilities, healthcare, retail, and other industries.” This financing was led by Hercules Capital, Inc.
Here's another well-worded excerpt from the news:
“On a mission to shape the future of voice security and authentication against rising threats, Pindrop's technologies help organizations detect fraudsters and authenticate genuine customers at scale. To date, Pindrop has analyzed 5.3 billion calls, prevented $2 billion in fraud losses, and detected 104 million spoof calls. Dedicated to leveraging good GenAI to combat bad AI, Pindrop is making significant strides in the fight against deepfakes.”
These sentiments were backed further by John Eggbeer, Managing Director at Hercules Capital, Inc., as well as by Pindrop’s Balasubramaniyan.
“Hercules is incredibly excited to partner with Pindrop as they continue working to transform the AI and voice authentication landscape,” Eggbeer expressed. “We're proud to support their mission of safeguarding major institutions from rising cyberattack threats. This financing will help accelerate their growth and innovation, enabling them to expand their reach and enhance their capabilities in providing robust security solutions.”
“We're incredibly pleased to secure this financing with Hercules Capital at such a pivotal moment for Pindrop," Balasubramaniyan stated. “This funding will fuel our ongoing growth and innovation in voice and AI technologies. As cyber threats continue to evolve, our mission to stay ahead of fraudsters and protect our customers is more critical than ever. We're excited about the future as we remain committed to driving advancements that safeguard major institutions and deliver unparalleled security in the digital age.”
Edited by
Greg Tavarez
