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Pindrop Security Inc. has secured $100 million in debt financing from Hercules Capital Inc. to enhance its cutting-edge audio, voice, and AI technologies. The company specializes in voice authentication technology used by various organizations to detect fraud and authenticate customers securely at scale, particularly in contact centers. Pindrop's technology has multiple applications, including securing mobile app logins and providing voice-based identity verification for consumer devices like cars.
With the rise in contact center fraud, Pindrop's voice authentication tech is crucial in combating sophisticated cyberattacks. The company's technology has been adopted by major U.S. financial institutions, insurers, banks, and credit unions, analyzing billions of calls to prevent fraud scams. Pindrop is now focusing on leveraging its technology to combat deepfakes, using tools like Pindrop Pulse for deepfake detection through voice recognition. The company's CTO, Rahul Sood, emphasizes the importance of evolving AI models to stay ahead of fraudsters and maintain high accuracy in deepfake detection.
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