The round of funding was led by the secretive Crystal Towers fund, an investment put together by YC alumni to back promising companies coming out of the group. The startup was launched at Disrupt SF in 2013, and the technology they develop aims to combat the spoofing menace in part by analysing carrier-level metadata to determine whether a call is legitimate or not.
Thus, using this 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. Nevertheless, those methods, Next Caller says, are extremely vulnerable to spoofing.
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