Finovate Alumni News– May 14, 2014

• TIO Networks partners with New Jersey’s Public Service Electric and Gas Company to set up bill payment kiosks.

• Pindrop Security and AGNITiO partner to protect call centers as they adapt to an increasingly mobile customer base.

• Bolstr explains the basics of crowdfunding on NBC Chicago.

• Loop Wallet app now available on Android.

• Maps Credit Union chooses ACI Worldwide’s online banking platform.

• Javelin Strategy takes a look at bill pay alternatives to Manilla, including Finovera.

• FinovateSpring 2014: Behind the Scenes with WePay, Rippleshot, and TextPower.

• BodeTree brings in $2 million in Series A round.

• SavedPlus, LikeFolio, Wallaby, FutureAdvisor, Simple and Wealthfront earn spots on CNN Money’s list of the 15 best financial websites and apps.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News– April 18, 2014

• Tuition.io brings in funding, surpasses $1 billion in loans under management.

• eWeek talks to Pindrop Security about scams during tax season.

• PYMNTS.com chats with miiCard CEO James Varga about identity theft.

• Financial Samurai interviews FutureAdvisor CEO, Bo Lu.

• Lending Club raises $115 million in debt and equity; acquires Springstone Financial.

• Kabbage blog features Expensify in its list of the 10 best mobile apps for small businesses.

• MasterCard to acquire APAC-region loyalty and rewards provider, Pinpoint.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News– April 2, 2014

• Bottomline Technologies buys Andera for $48 million.

• Marketing Land takes a look at Narrative Science’s free, Google Analytics app, Quill Engage.

• Saudi Arabian Bank Albilad to deploy FIS’ card management system and switching platform.

• TradeKing promotes Kevin Delo to Chief Information Officer.

• Startups.co.uk interviews Tradeshift CEO, Christian Lanng.

• Atlanta Business Chronicle looks at Pindrop Security’s growth: doubling its workforce and has quadrupled its workspace.

• Check Point Software Technologies launches new ZoneAlarm 2015 security product line.

• Finovate alums raise $600 million in first quarter of 2014.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News– February 28, 2014

• Pindrop Security launches Industry’s First Combined Voice Biometric and Phoneprinting Fraud Detection System.

• Tyfone launches mobile banking platform for small and medium FIs.

• Taulia launches Taulia Enhanced Discounting which gives organizations the choice of using cash or the capital of a third-party FI to pay early.

• FreeAgent launches its first dedicated division giving direct support to UK accountants and their clients.

• ShopKeep POS reaches 10,000 customers, announces expansion in Ireland and western U.S.

• PrivatBank launches HCE mobile NFC payments solution.

• Housing Wire lists Realty Mogul among its 100 most innovative technology companies for 2014.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News– February 4, 2014

• Nous makes it to the finals of UK’s Million Pound Startup competition. Check them out at FinovateEurope in London.

• Luminous partners with Jack Henry & Associates. Come see them both at FinovateEurope next week.

• Pindrop Security achieves record growth in 2013 fueled by rising phone-based fraud.

• Sun Hearlad features Finovera as a new site to help manage personal finances.

• In yet another partnership, Refundo partners with Stripe to process payments for tax preparers.

• CNB Texas launches responsive design website from Banno for greater cross-sell potential.

• Top-Five U.S. Bank makes million dollar investment in software licenses for Kofax’s Mobile Capture. Come see Kofax’s live demo at FinovateEurope.

• FinovateEurope 2014: Guess Who’s Coming to London?

• VentureBeat lists TransferWise among London’s hottest startups.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News– June 21, 2013

• Braintree opening office in Sydney, Australia, that will cater to developers and startups.

• Monitise named winner in the Inspire Wales Awards.

• Pindrop Security raises $11 million led by Andreessen Horowitz and Citi Ventures.

• Metaforic wins American Technology Award for Cyber Security.

• New Business interviews CurrencyFair founders on saving money when making foreign currency transactions.

• Biz Report’s Mobile Marketing column features 3 tips to improve location-based campaigns in an interview with Locaid CEO, Rip Gerber.

• INTJ Capital takes a look at QuantConnect’s announcement that it has added historical FX and US equity tick data.

• LendUp announces instant online loans.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Pindrop Security Raises $11 Million Led by Andreessen Horowitz and Citi Ventures

Pindrop Security, a startup that aims to stop caller ID fraud, announced today that it has received $11 million from Andreessen Horowitz and Citi Ventures.

Other investors contributing to Pindrop’s Series A round include:

• Redpoint Ventures
• Felicis Ventures
• Webb Investment Network, which led Pindrop’s Seed Round last May  

The Atlanta-based company plans on using the funds to add resources in engineering, operations, and sales and marketing in the U.S., Canada and Europe in order to better meet customer demand.

Scott Weiss, General Partner for Andreessen Horowitz, has joined Pindrop’s board.

To learn more about Pindrop Security, watch its FinovateFall 2012 demo.

Finovate Alumni News– March 8, 2013

• TechCrunch reports: PayPal separates developer platform from X.commerce, launches Simpler mobile APIs.

• Springwise considers the open source nature of TESOBE’s OpenBankProject.

• Pindrop Security named the Best Rookie Security Company at the 2013 SC Awards.

• Servant of Chaos reports: SocietyOne eyes off disruption in personal lending.

• Intuit Small Business blog lists Mint and Expensify as 2 of 4 apps to help manage your small business.

• UK Wired Magazine reports BehavioSec invents alternative to passwords using biometric fingerprints.

• Edison Investment Research publishes report covering Virtual Piggy.

• Founder and CEO of Fuze Network, Dave Wilkes, to speak at the 2013 BAI Payments Connect Conference & Expo.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

2012 Funding for Finovate Alumni– More than $450 Million Raised

Here is a list of all the funding Finovate alumni received over the course of 2012.  

After an impressive 2011, where more than $423 million was raised, 2012 was even better, with more than $450 raised.

A few stand-out metrics for the year:

• A total of 44 companies received funding, some more than once in 2012
• Combined, more than $450 million was raised
• The best quarter for raising capital was the first quarter when more than $150 was raised
• The biggest funding month this year was March, with more than $68 million raised by three companies

Here is a month-by-month breakdown of funding received.

January — $25 million raised by 3 companies

Currensee: $2 million — blog post

Finsphere: $11.3 million — blog post

HelloWallet: $12 million — blog post

February — $57 million raised by 5 companies

Capital Access Network: $30 million — blog post

Dwolla: $5 million — blog post

Jemstep: $6 million — blog post

Kabbage: undisclosed — blog post

Xero: $16.6 million — blog post

March — $68 million raised by 3 companies

Boku: $35 million — blog post

eToro: $15 million — blog post

ThreatMetrix: $18 million — blog post

April — $2.5 million raised by 1 company

miiCard: $2.5 million — blog post

May — $55.5 million raised by 5 companies

Kony: $15 million – blog post

Pindrop Security: $1 million — blog post

SecureKey: $30 million — blog post

SoMoLend: $1.17 million — blog post

Yodlee: $8.3 million — blog post

June — More than $62 million raised by 8 companies

Affinity Solutions: $14.5 million — blog post

Arroweye Solutions: $3 million — blog post

Cartera Commerce: $12.2 million — blog post

Credit Sesame: $12 million — blog post

Doughmain: undisclosed — blog post

Lending Club: $15 million — blog post

Nutmeg: $5.3 million — blog post

Planwise: $200,000 — blog post

July — $6 million raised by 2 companies

Continuity Control: $1 million — press release

SaveUp: $5 million — blog post

August — More than $49 million raised by 6 companies*

DemystData: undisclosed — blog post

FutureAdvisor: $5 million — blog post

FreeMonee: $34 million — blog post

The Currency Cloud: $3.1 million — blog post

CashStar: $5 million — blog post

Continuity Control: $2.25 million — blog post

September — More than $59 million raised by 5 companies

Banno: $2 million — press release

Betterment: $10 million — press release

Edo Interactive: $15 million — press release

Fuze Network: $2.5 million — press release

Kabbage: $30 million — blog post

October — $37 million raised by 2 companies

The Currency Cloud: $1.9 million — blog post

Braintree: $35 million — blog post

November — More than $23 raised by 4 companies

ActivePath: $10 million
— blog post

Jingit: $7 million — blog post

Bazaarvoice: $6.7 million — blog post

Xero: $49 million — blog post

December — More than $16 million raised by 4 companies

Waspit: $3 million — blog post

Controlabill: $570,000 (A$600,000) — blog post

Zopa: undisclosed — blog post

ShopKeep POS: $10 million – blog post

Clover Networks: $3.3 million – blog post

*In addition to the companies listed for August, On Deck Capital raised $100 million in credit facility commitments.

Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? E-mail us at Julie@Finovate.com or David@Finovate.com.

Pindrop Security Launches Fraud Detection System

Then, Pindrop Security launched a solution to protect FIs against fraud:

“FFIEC Authentication Guidance recommends out-of-band methods to verify online (web-based) transactions as part of their layered security approach. Most banks use the phone to do this by placing a phone call to verify an online transaction. However, attackers are using fraudulent call forwarding and number porting to redirect this phone call to the attacker’s phones. 

Pindrop Security is introducing a first-of-its-kind service to protect financial institutions against fraudulent customer out-of-band verification by identifying when a call is reaching a legitimate customer and when the call has been forwarded/ported to a new device.”

Product Launched: September 2012

HQ Location: Atlanta, GA

Company Founded: April 2011

Metrics: Pindrop employs 15 people as of September 2012, and we’re hiring. We raised $1M in seed funding and have also been granted significant funding through National Science Foundation grants. We have deployed at a Top 5 bank and are engaged in most of the top financial institutions.

Website: pindropsecurity.com

Twitter: @pindropsecurity

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Vijay Balasubramaniyan (CEO) and Matt Anthony (VP Marketing)