Cybersecurity Firm Bureau Secures $30 Million to Expand Global Footprint

Investing.com -- Cybersecurity initiative Bureau has raised $30 million in a funding round to expand into new markets. According to a statement made on Wednesday, the round was led by Sorenson Capital.

The funding round, referred to as Series B, has reportedly brought the company's valuation to approximately $150 million, according to a source familiar with the transaction. Bureau's primary focus is on preventing user identity fraud.

The funding round also saw participation from existing investors, including PayPal Ventures, the venture capital arm of PayPal (NASDAQ:PYPL), as well as Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.

The initiative, which aims to protect business operations from cyberattacks, counts among its clientele companies such as Microsoft (NASDAQ:MSFT), UnitedHealth Group, and Walt Disney, which have previously been targets of cyberattacks.

Founder and CEO Ranjan Reddy noted that the company has experienced an increase in demand and plans to enhance its sales and marketing efforts to meet this demand.

Current customers include India's passenger transportation service provider Rapido and IDFC First Bank. According to Reddy, Bureau also plans to expand its operations in Saudi Arabia, North America, and Mexico.

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