Next Caller, an intelligent caller identification service that helps enterprises specially financial institutions and call centers to prevent fraud and serve their customers quickly by authenticating inbound callers in just few milliseconds after they call, was added to our portfolio three years ago. Recently, Next Caller has got $5M more from Crystal Towers, a fund backed by YC founders to further develop their platform.
Next Caller, which launched at Disrupt SF in 2013, raised $5 million in a recent round of funding led by the secretive Crystal Towers fund, an investment put together by YC alumni to back promising companies coming out of the group.
Using the technology, companies no longer need to ask callers to verify their identity. Next Caller has already identified the caller as the legitimate account holder, allowing the customer service rep to offer assistance sooner.
Typically, fraud detection has relied heavily on biometrics and phone number “reputation scores,” according to a statement from the company. Those methods, Next Caller says, are extremely vulnerable to spoofing.
Next Caller’s technology combats the spoofing menace in part by analyzing carrier-level metadata to determine whether a call is legitimate or not.
Please read full story at TechCrunch.