Finsphere raises $11.3M |
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Finsphere raises $11.3M
Bellevue-based startup Finsphere Corp. has raised $11.3 million in venture capital led by Vodafone Ventures, the corporate venture capital arm of Vodafone Group.
Also participating in the round are existing investors Mohr Davidow Ventures, Shasta Ventures and Frazier Technology Ventures.
Finsphere, founded in 2007, provides identity-authentication services for wireless carrier customers.
The company’s Pinpoint service matches the location of consumers’ mobile phones with financial transactions taking place at banks, ATMs and retail stores. If the two don’t match -- say a purchase occurs at an electronics retailer in New York while the mobile phone user is in Seattle -- PinPoint will send an alert notifying the consumer.
Finsphere said it will use the funding to expand its service and grow its strategic partnerships with wireless carriers.
“Through strategic relationships with mobile network operators and working with key industry partners, Finsphere enables wireless carriers to help protect their customers,” said Finsphere CEO Mike Buhrmann. “Finsphere provides a sophisticated analytics platform for the development of non-intrusive identity services to enhance privacy and protect information across all industry segments.”
Vodafone’s Tobin Ireland is joining the Finsphere board.
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