Illuma Labs Announces $9 Million Series A Funding: Revolutionizing Credit Union Security & Caller Experience!

Illuma Labs, a cutting-edge Credit Union Service Organization (CUSO) based in Plano, Texas, has successfully raised $9 million in funding to bolster its pioneering voice authentication and fraud prevention solutions for credit unions and community banks. The funds will primarily be directed towards expanding the capabilities of Illuma Shield™, the company’s flagship product, which leverages advanced audio biometrics to enhance security and streamline customer interactions. Illuma Shield™ is designed to transform the contact center experience, reducing authentication times by over 80% through its innovative AudioPrint™ technology. This means that callers can enjoy a more personal and frictionless service, bypassing tedious verification hoops and instead engaging directly with agents who are able to swiftly address their needs. With this latest capital injection, Illuma Labs aims to accelerate the deployment of its passive voice authentication system across more financial institutions, driving operational efficiency while significantly improving account security. The solution's rapid implementation timeline—weeks instead of months—combined with an impressive enrollment acceptance rate exceeding 95% marks a turning point for credit unions and community banks eager to adopt top-tier technology on a budget. As a recognized leader in the field, having won Best in Show at VentureTech 2019 and showcased at premier FinTech events, Illuma Labs stands at the forefront of marrying big bank technology with community-focused service, ensuring financial institutions can protect their customers against fraud while enhancing user experience. This funding solidifies their commitment to innovating the financial services landscape, ensuring that security and efficiency go hand in hand.