Illuma Labs, a Plano, TX-based company which specializes in voice authentication technology for banking contact centers, raised $9M in Series A funding.
The round was led by LiveOak Ventures, with participation from Forefront Venture Partners, Curql Fund, UsNet, Capital Factory, Connexus, and TDECU.
The company intends to use the funds to accelerate the development of its voice verification solutions, addressing threats like fraud, voice cloning, and deep fakes, and expanding its reach to more credit unions and banks nationwide.
Led by CEO and Founder Milind Borkar, and CTO Jeremy Whittington, Illuma Labs is providing its flagship product, Illuma Shield™, that replaces traditional knowledge-based authentication practices with a secure real-time voice authentication solution to enhance caller experience, improve operational efficiency, and prevent fraud in credit union and community bank contact centers.
FinSMEs
11/09/2024