About Illuma
Illuma is a company based in Plano (United States) founded in 2016 by Milind Borkar and Jeremy Whittington. It operates as a AI-as-a-Service, Subscription Services, and FinTech. Illuma has raised $11.5 million across 4 funding rounds from investors including USNet, Live Oak Ventures and Forefront Venture Partners. The company has 16 employees. Illuma offers products and services including IllumaSHIELDâ„¢, Fraud Prevention, and Digital Solutions. Illuma operates in a competitive market with competitors including Entrust, Megvii, HYPR, Unico and Chooch, among others.
- Total Equity Funding$11.5M (USD)
in 4 rounds
- Latest Funding Round$9M (USD), Series A
Sep 2024
- InvestorsUSNet
& 8 more
- Employee Count16
Products & Services of Illuma
Illuma offers a comprehensive portfolio of products and services, including IllumaSHIELD™, Fraud Prevention, and Digital Solutions.
Voice authentication solution for secure caller identity verification.
Advanced technology to prevent fraud and account takeovers.
Tailored solutions for banks and credit union security.
Funding Insights of Illuma
Illuma has successfully raised a total of $11.5M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $9 million completed in September 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $11.5M
- Total Rounds 4
- Last Round Series A — $9M
- First Round $2.5M
(Jun 2021)
- Investors Count 9
All 4 funding rounds of Illuma with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2024 | $9M | Series A | – | Live Oak Ventures | |
| Aug 2022 | – | Seed | – | TDECU, Connexus Credit Union | – |
| Jun 2022 | – | Seed | – | – | |
| Jun 2021 | $2.5M | Seed | – | – |
9 investors in total: 9 institutional.
Investors in Illuma
Illuma has secured backing from 9 investors, including venture fund and institutional investors. Prominent investors backing the company include USNet, Live Oak Ventures and Forefront Venture Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund investing across early-stage tech startups | – | liveoak.vc | Austin, United States | |
Seed and early-stage investments are targeted by the VC firm. | – | forefrontvp.com | Boca Raton, United States | |
Acceleration is provided to seed-stage, early-stage, and later-stage companies. | – | capitalfactory.com | Austin, United States | |
Curql is focused on connecting credit unions with fintech investments. | – | curql.com | Des Moines, United States | |
Offers banking services, loans, and digital tools for credit union members. | 1935 | connexuscu.org | Wausau, United States | |
Provides checking, savings, loans, credit cards, and mortgages to members. | 1955 | tdecu.org | Lake Jackson, United States | |
An association supporting credit unions in New York State. | – | nycua.org | Albany, United States | |
Cabling infrastructure and data relocation services are provided. | 2000 | usnet-1.com | Arlington, United States | |
A shared branching network is operated for credit unions. | – | universalsharing.com | Albany, United States |
Investor details for Illuma
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People of Illuma
2 people are tracked at Illuma (2 in leadership); the tracked headcount is 16.
| Name | Role | Group |
|---|---|---|
Milind Borkar | Co-Founder & CEO | Leadership |
Jeremy Whittington | Co-Founder & CTO | Leadership |
Complete people profiles for Illuma
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Illuma
3 dated milestones of Illuma across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Illuma is founded.
- Funding First funding round of $2.5M.
- Funding Latest funding round, Series A, of $9.0M.
Competitors of Illuma
Illuma operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Entrust, Megvii, HYPR, Unico and Chooch, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| entrust.com | 1969 | Dallas, United States | – | 108 | Provider of digital identity management solutions | |
| megvii.com | 2011 | Beijing, China | $1.98B | – | Facial recognition and AI video analysis solutions are provided. | |
| hypr.com | 2014 | New York, United States | $130.65M | – | Passwordless multi-factor authentication and identity assurance solutions are provided. | |
| unico.io | 2007 | Sao Paulo, Brazil | $337.34M | – | Digital identity solutions company providing facial biometrics and digital admission solutions | |
| chooch.com | 2015 | San Mateo, United States | $42.91M | – | Generative computer vision solutions are offered for video stream analysis. | |
| evrotrust.com | 2015 | Sofia, Bulgaria | $13.83M | – | AI-based identity verification and electronic signing are provided for businesses. | |
| sensetime.com | 2014 | Hong Kong, China | $2.82B | – | AI based platform offering image recognition solutions | |
| oosto.com | 2015 | Holon, Israel | $352M | – | AI-powered video analytics systems are provided for security and operations. |
Detailed competitors of Illuma
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- Full competitor set
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Web traffic of Illuma
The website of Illuma (illuma.cx) receives about 5.6K visits a month.
- Monthly visits5.6K
▲ 18.4% vs previous month
Websites whose visitors overlap most with Illuma. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| daon.com | 100% | 47.6K | #727,752 | View details | |
| phonexia.com | 86% | 23K | #1,290,597 | View details |
Latest news on Illuma
Complete news archive for Illuma
Full article history, source details, and older brand coverage require an active premium plan.
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Similar companies to Illuma
10 companies that operate in the same segment as Illuma (GRC, Risk & Compliance Software), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cybersecurity and zero trust solutions are delivered for secure networks. | 2007 | San Jose, California, United States | USD 148 M | USD 3.35 B | 2,241 | |
Platform that provides data analysis and management solutions | 2003 | Denver, Colorado, United States | USD 2.46 B | USD 2.87 B | 3,940 | |
Identity and access management solutions are provided for developers. | 2013 | Bellevue, Washington, United States | USD 332.75 M | – | – | |
Cloud security posture management solutions are provided by the platform. | 2000 | Sunnyvale, California, United States | USD 54.2 M | USD 6.8 B | 14,140 | |
Digital workplace safety tools for inspections and audits are provided. | 2004 | Surry Hills, New South Wales, Australia | USD 297.93 M | – | – | |
Compliance and risk management platform is offered to enterprises. | 2016 | San Francisco, California, United States | USD 503.05 M | – | – | |
Cloud-based tax compliance solutions are delivered for businesses worldwide. | 2004 | Seattle, Washington, United States | USD 342.97 M | USD 65.53 M | 1,623 | |
Hybrid cloud infrastructure solutions are delivered for business management. | 1977 | Austin, Texas, United States | – | USD 1.79 B | 8,890 | |
Cloud based identity governance and administration software | 2005 | Austin, Texas, United States | USD 26.65 M | USD 1.07 B | 2,740 | |
Online payment solutions are offered to consumers and businesses. | 1998 | San Jose, California, United States | USD 216 M | USD 31.79 B | 24,400 |
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Frequently Asked Questions about Illuma
Illuma was founded in 2016 and raised its 1st funding round 5 years after it was founded.
Illuma is headquartered in Plano, United States. It is registered at Plano, Texas, United States.
Milind Borkar is the current CEO of Illuma. They have also founded this company.
Illuma is a funded company, having raised a total of $11.5M across 4 funding rounds to date. The company's 1st funding round was a Seed of $2.5M, raised on Jun 2021.
Illuma has 16 employees.
Frictionless voice authentication and advanced fraud prevention solutions are offered by Illuma, primarily for contact centers in banks and credit unions. The technology is designed to enhance caller experience, reduce call handle times, and increase account security. Key sectors served include financial services and banking, with solutions like IllumaSHIELD leveraging AI and machine learning for secure, seamless authentication. Deployment is tailored to be affordable, efficient, and user-friendly, ensuring protection against social engineering and account takeovers while personalizing caller interactions.
Illuma offers IllumaSHIELDâ„¢, Fraud Prevention, and Digital Solutions.
Illuma has 9 investors. Key investors include USNet, Live Oak Ventures, Forefront Venture Partners, Capital Factory, and Curql.
Illuma operates through Illuma Labs Inc..