
Illuma Labs Secures $9 Million Series A Funding for Voice Authentication Innovation
Key Highlights:
- Illuma Labs secures $9M Series A funding led by LiveOak Ventures with participation from key investors.
- Funding will accelerate development of voice authentication solutions to combat fraud and deep fakes.
- Illuma Shield™ streamlines customer experience while improving security for financial institutions.
- Connexus Credit Union highlights efficiency, with call times reduced by one minute using Illuma Shield.
Source: Business Wire
Quotes
“ “While we are excited about the capital infusion to accelerate our development of fraud prevention and deep fake detection tools, we are equally excited about bringing in new partners to fuel Illuma’s continued commercial growth.” ”
Milind Borkar, CEO at Illuma Labs
Our Take:
This funding round marks a significant milestone for Illuma Labs, which is on track to become a dominant force in voice authentication for financial institutions. With the increasing threats of fraud, voice cloning, and deep fakes, Illuma's innovations will be pivotal in protecting sensitive financial data while enhancing the customer experience. This funding not only accelerates technological advancements but also strengthens Illuma’s partnerships, positioning them for rapid growth in the Fintech space.