Clearspeed, the US-based leading provider of voice analytics technology to assess security and fraud risk, brings a new level of unique data to risk assessment. The company’s voice analytics technology represents a huge leap in risk accuracy for insurers and security services.

This week, the company said it has raised $27 million in a Series C financing round to help companies in the insurance and security sectors.

This latest funding round, which brought the total raised funds to $50 million, was led by investors Ian McKinnon (founder of Sandia Holdings) and Thomas O’Malley Jr. (founder of PilotRock Investments) and supported by King Philanthropies, the philanthropic endeavor of Robert and Dorothy King.

The newly-raised funds will be used to support the rapid commercial expansion and delivery of its customer experience and continue to drive an innovative technology roadmap to serve the security and financial services markets, according to the company’s press release.

In a released statement via the company’s press release, Alex Martin, Co-Founder and Chief Executive Officer of Clearspeed, said: “We are absolutely delighted with the support from our investors who see the impact Clearspeed’s customers are realizing through faster, easier, and radically more accurate risk assessment.”

CEO Alex Martin also added: “With this funding, we will meet the rising demand for our innovative technology and expand our product suite. Bringing Clearspeed’s voice analytics to more businesses empowers them to make faster decisions with confidence and deliver an incredible customer experience while streamlining costs and reducing fraud.”

As part of the transaction, O’Malley Jr. of PilotRock Investments and Ian McKinnon of Sandia Holdings will be joining Clearspeed’s Board of Directors, effective upon the closing of the investment. Jeff Williams, Operating Partner at Bain Capital Ventures, will also be joining as an investor and Board Advisor.

Founded in 2016, and based in San Diego, California, Clearspeed is a leading provider of voice analytics technology to assess security and fraud risk that quickly yielded exceptionally high levels of assessment precision and accuracy. The company has pioneered a new method of delivering risk identification and straight-through processing at scale. Leading global corporations and government organizations used Clearspeed’s highly precise, and accurate voice analytics technology to fast-track low risk while also alerting to possible fraud.