US-based fraud detection start-up Inscribe has secured $25 million in a Series B funding round led by Threshold Ventures.
The round also saw participation from Crosslink Capital, Foundry, Uncork Capital, Forum Ventures and a number of angel investors. The new funding brings Inscribe’s total capital raised to $38 million.
Founded in 2017 with its headquarters in San Francisco, California, Inscribe’s tech automates document reviews and helps improve fraud detection, enabling financial companies to improve their efficiency and reduce operational costs.
The company claims to have seen a 3x year-over-year increase in annual recurring revenue and a 4x year-over-year increase in monthly usage in 2022. With the new capital, Inscribe plans to further develop its fraud detection capabilities and introduce risk intelligence innovations.
Ronan Burke, co-founder and CEO of Inscribe, says the firm is set to embark on an initiative “to empower the entire financial services industry with risk intelligence by regularly surfacing fraud trends and data”, adding that it is aiming to help companies “eliminate uncertainty” and approve more customers “with confidence”.