Glasswing Portfolio Company Allure Security Raises $17M in Series B Funding

At Glasswing Ventures, we go early and long with our founders. We identify market transformers early in their development and stay with them throughout their journey to product-market fit, customer acquisition, and fundraising. Today, we are proud to share that one of our early Fund I investments, Allure Security, has successfully raised a $17M Series B through Glasswing’s introduction to Riverside Acceleration Capital (RAC).

From its technology incubation phase, we have believed in Allure Security’s mission to prevent malicious and fraudulent activities. The company has built its own AI models, data, and training to create an AI-native system that can identify and remediate online scams across the web and social media. It intelligently distinguishes between authentic content and deepfake imitations to stop digital impersonation, phishing, and disinformation attacks before they reach a brand’s critical relationships, such as customers, partners, and employees. With AI increasing the number of impersonation scams happening annually, the cybersecurity company has experienced 350% growth over the last two years.

Allure’s approach to fraud prevention is three-pronged. First, it uses specialized AI to track scam patterns and cloaking techniques. It then leverages this knowledge to predict what scams will happen before they occur, so customers never have to be made victims. The platform then diffuses these scams, so impersonated websites or social media accounts never get made. Finally, it breaks the economic model of the scammers by poisoning stolen data, so scammers are set up to get caught. With Allure Security, brands can prevent 95% of consumer access to scams and reduce existing scam volume by 75% within the first quarter of implementation.

The successful Series B fundraise indicates that Allure Security is addressing the right problem at the right time. With over 300 customers spanning large enterprises, banks, credit unions, investment firms, and retailers, Allure is helping brands reduce churn and fraud costs, even as global cybersecurity threats continue to increase. We are proud to have provided Allure with its first capital and are thrilled to continue working with the team through our Series B commitment, alongside RAC and existing investors Curql, Gutbrain Ventures, and PBJ Capital.

Read more about Allure’s fundraise here.