Clearspeed, a provider of voice analytics technology to assess security and fraud risk, has raised $27m in Series C funding.
The round was led by investors Ian McKinnon, founder of Sandia Holdings, and Thomas O’Malley Jr., founder of PilotRock Investments, and supported by King Philanthropies.
The round, which brings the company’s total funds raised to $50m, will be used to support the company’s commercial expansion and delivery of its customer service and its technology to serve the security and financial services markets.
Founded in 2016, Clearspeed describes itself as a leading provider of voice analytics technology to assess risk that quickly yielded exceptionally high levels of assessment precision and accuracy. The company said it also pioneered a new method of delivering risk identification and straight-through processing at scale.
Alex Martin, co-founder and chief executive officer of Clearspeed, said, “We are absolutely delighted with the support from our investors who see the impact Clearspeed’s customers are realizing through faster, easier, and radically more accurate risk assessment.
“With this funding we will meet the rising demand for our innovative technology and expand our product suite. Bringing Clearspeed’s voice analytics to more businesses empowers them to make faster decisions with confidence and deliver an incredible customer experience, while streamlining costs and reducing fraud.”
Jeff Williams, Clearspeed’s new board advisor and investor, added, “Clearspeed was established to address the lengthy and complex screening processes that people face, enabling fast-tracking with a simple but highly accurate risk assessment capability that clears low-risk transactions quickly and alerts when additional review is needed,”. “This funding will enable Clearspeed to better meet expansive market demands of more enterprise-wide, accurate risk assessment that drives up customer satisfaction and dramatically reduces costs.”
Sardine, a provider of fraud, compliance and instant settlement solutions, recently closed its Series B round on $51.5m in its Series B.
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