VU, a Cyber Security and fraud detection company, announced that it raised USD 12 Million in a Series B funding round. After this funding, the total funding raised by the company is USD 19.5 Million (Source: Crunchbase ).
VU’s Series B round was led by Globant with the participation of NXTP Ventures, IDB Lab, Telefónica, Bridge One, and Agrega Partners.
The investment by Globant into VU also serves as a partnership. Globant offers software development to the likes of Disney, Apple and Google. With their partnership, they will make VU’s digital experience like a package so that the buyer companies can customize it according to their usage.
“Globant is changing the digital experience, so having their backing is a great message to our customers and partners that we are performing well,” CEO VU. “Their backup and those of all of our investors provides an opportunity to take a risk and help us grow faster.”
About VU –
VU was initiated by Sebastian Stranieri in 2007, having its headquarters in Buenos Aires, Distrito Federal, Argentina. The idea for VU got stuck in Sebastian’s mind after having experience working for 20 years in the Cyber Security sector. In 2007, after he spent hours helping his grandmother, to verify her identity with the Argentinian government, which was a few minutes process.
“It pushed me to create a company to help create digital experiences without the friction,” he stated.
VU is among the several startups that are applying technology to fraud identity with a global market for digital identity and expects to reach a funding valuation of USD 33 Million, by 2025.
In the past few years, VU has increased its workforce by more than 150 employees and is operating across Europe and Latin America. Its customer’s list has some big names like Prisma, Latin American Government, and Santander. It recently opened an office in New York as well.
VU is averaging 85 per cent year over year revenue growth, and the CEO expects it to grow to 100 per cent in 2021 and later in 2022 as well. Except for New York, it opened its offices in Madrid and is planning to open in France, the UK and Italy as well.
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