Verisoul Raises $8.8 Million for Fraud Prevention

Fraud detection startup Verisoul on Tuesday announced raising $8.8 million in a Series A funding round that brings the total raised by the company to over $12 million.

Founded in 2022, Austin, Texas-based Verisoul has built an all-in-one fraud detection platform that tackles bots, duplicate accounts, and fraudsters.

The company’s solution covers a user’s entire journey to build a holistic profile for them, based on real-time behavior, device, and network data, combined with ID verification and email intelligence.

Verisoul uses AI models to analyze invisible forensics, evaluate them against customer-specific rules, and apply a ‘Real’, ‘Suspicious’, or ‘Fake’ label to users, accounts, and transactions.

The company says it can detect device and location spoofing, multi-account abuse, anonymized connections, and AI bots, and can also validate email addresses and phone numbers, and verify user IDs and match their faces with selfies.

The Verisoul Series A funding round was ...