December 12, 2018

Inscribe raises $3 million to automate document fraud detection

Fraud detection startup Inscribe today announced the close of a $3 million funding round.

Inscribe uses a combination of natural language processing and computer vision to scan documents sent to lenders and insurance companies to catch fraudulent activity in documents like pay stubs, bank statements, and tax forms.

The money will be used to grow the company and its engineering ranks. As a result, an office will be opened in Dublin, Ireland, cofounder and CEO Ronan Burke told VentureBeat in a phone interview. Inscribe currently has four employees.

Computer vision may flag documents based on their appearance resembling free online templates, dark web forgeries, or even based on the font used or color of a document. Read rest here.