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- Illuma Labs Secures $9 Million Series A Funding for Voice Authentication Innovation
Illuma Labs Secures $9 Million Series A Funding for Voice Authentication Innovation
Slice of Finance Team
16 Sep
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
Notable 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.”
“It’s exciting to work on technology that can reduce fraud and improve the customer experience at the same time. A rare achievement.”
“With Illuma’s position in the Fintech sector, there is a clear growth path to becoming the preferred provider of voice authentication and fraud prevention solutions in this space.”
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.