Illuma Labs develops Illuma Shield, a real-time voice authentication solution that replaces traditional knowledge-based authentication in credit union and community bank contact centers. The product is designed to improve caller experience, boost operational efficiency, and prevent fraud including voice cloning and deep fakes. Early adopters TDECU and Connexus have deployed the technology; Connexus reports a one-minute reduction in average call times and lower operational expenses. Illuma plans to use new funding to accelerate development of fraud-prevention and deep-fake detection tools and expand its commercial reach to more credit unions and banks nationwide. Leadership includes founder and CEO Milind Borkar and CTO Jeremy Whittington; the company recently hired Amy Travers (formerly Regional VP of Security and Biometrics at Nuance) to systemize and scale U.S. sales. Headquartered in Plano, Texas, Illuma has won a 2024 CreditUnions.com Innovations in Fraud award and was named to Dallas Innovates' inaugural AI 75 list.

Total raised

$9M

Funding rounds

1

Latest round

Series A

Latest activity

Sep 2024