Inscribe, an Irish-founded but US headquartered technology start-up, has raised over $3 million (€2.65 million) in a funding round, with the financing to be used to open an engineering hub in Dublin.
The online fraud detection company said it intends to hire 10 engineers here over the next 12 months.
The company was set-up by twin brothers Ronan and Conor Burke, along with Oisin Moran and James Eggers, in San Francisco late last year.
Inscribe has developed technology that allows insurers and lenders to quickly identify fraudulent documents via digital forensics and machine learning.
"We based Inscribe in San Francisco to take advantage of the large pool of potential customers in the area in addition to the access to capital and network of advisors," Ronan Burke, the company's chief executive told The Irish Times.
“We are opening an office in Dublin to grow our engineering team and tap into the engineering and science talent that Ireland has to offer,” he added.
The funding round was led by Crosslink Capital and Uncork Capital with participation from SV Angel, Friále, Liquid 2 Ventures, and Quiet Capital.
Mr Burke said Inscribe had also raised an additional $170,000 via its participation on a number of accelerators, including the highly regarded Y Combinator start-up incubator programme in Silicon Valley.
“Our primary focus over the next year or so is to establish Inscribe as the go-to solution for lending and insurance companies looking to reduce fraud. Once we achieve this goal, we will look for further funding to accelerate our growth in these markets,” he said.
