Pindrop's Growth Story
Vijay Balasubramaniyan was on vacation in India when he bought a new suit. At 3 a.m., his phone rang. It was the bank, or so the person on the other end of the line told him. They wanted to confirm that he made the transaction but first, he had to give them his account and social security number. He was not going to share that sensitive information because he had no way to verify the bank’s identity.
Vijay spent the next six years working on his Ph.D. at Georgia Institute of Technology studying the traits of wanted versus unwanted phone calls. In 2011, he launched Pindrop, pioneering voice fraud prevention and authentication. Phone fraud, identity theft, and social engineering epidemic measures over $20 billion in losses annually in the US alone. Pindrop ended 2015 with 155 employees. The company’s customers include three of the top four banks in the US, as well as the US government, and top insurance and retail companies. To start 2016, Pindrop announced a $75 million Series C round lead by CapitalG. In total, Pindrop has now received more than $122 million in funding.