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Illuma Raises Funds to Bring Voice Security to Credit Unions

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Illuma Raises Funds to Bring Voice Security to Credit Unions

Voice security fintech Illuma has raised an undisclosed amount to support its efforts in providing deepfake detection, fraud prevention, and adaptive authentication for credit unions and smaller banks.

The investment comes from existing Illuma clients Financial Plus Credit Union and Dort Financial Credit Union, as well as Washington-based CUSO One Washington Financial, and follows its most recent funding round since February of 2025. According to Crunchbase, Illuma has raised a total of $11.5 million in disclosed funding, with four additional rounds (including today’s’) of undisclosed amounts.

“Investment from institutions that use our technology every day is a powerful expression of confidence in what we are building,” said Illuma Founder and CEO Dr. Milind Borkar. “Financial Plus and Dort Financial understand the impact of making member interactions more secure and easier for everyone involved. Alongside One Washington Financial, they are helping us accelerate innovation and bring advanced Voice Security to more institutions as fraud threats continue to evolve.”

Founded in 2016, Illuma specializes in voice authentication solutions for credit unions and community banks. IllumaSHIELD, the company’s flagship offering, uses passive voice authentication to authenticate trusted account holders in seconds while helping credit unions and banks detect AI voice fraud, deepfakes, account takeover attempts, and other potential voice threats in real time. The company also offers advanced fraud prevention, adaptive multi-factor authentication (MFA), deepfake detection, and human-AI collaborative intelligence.

Specifically, today’s investment will help Illuma advance its deepfake detection capabilities, enhance layered security, support additional platforms, strengthen enterprise readiness and reliability, and expand its commercial reach across credit unions and banks.


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