Finsphere Corporation provides identity analytics and a patented Identity Security Services platform that enables non-intrusive, privacy-enhancing services to protect individuals and data across industry segments. The company uses sophisticated analytics to develop services and deepen integrations with strategic partners. Finsphere intends to use the new funds to expand its Identity Security Services platform and grow strategic partnerships with wireless carriers and other key industry players. The company is led by CEO Mike Buhrmann and added Tobin Ireland of Vodafone to its board in conjunction with the funding. Finsphere was founded in 2007 and is based in Bellevue, Washington. Finsphere offers PinPoint, a service that matches a consumer’s mobile-phone location with financial transactions at ATMs, banks and retail stores to flag location mismatches as potential fraud. The system is aimed first at reducing credit-card fraud by adding location as an additional signal to existing pattern-recognition models. Finsphere says the concept can extend to online transactions by comparing phone location to the IP address initiating an activity, and can alert users to suspicious account or profile changes. The company is working with about a dozen banks on the offering and faces a primary competitor, ValidSoft, in the U.K. Finsphere was founded in 2007 and is based in Bellevue; Michael Buhrmann, a former McCaw Cellular executive and founder of @Mobile, leads the company. Financially, the startup has raised just over $20 million to date and pulled in a $1.75 million venture financing reported in this article, and expects to seek additional financing as it ramps the service.

Total raised

$13M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2012