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Illuma Labs

Plano, US · Founded 2016 · 31 employees on LinkedIn · 6 known investors

Illuma is a FinTech company providing AI-powered voice security and authentication solutions for financial institutions. Its flagship platform uses voice biometrics, fraud detection, and deepfake detection to verify caller identity and secure contact center interactions.

Also known as Illuma · IllumaSHIELD

Founders & leadership

Illuma Labs was founded in 2016 by Milind Borkar.

MBMilind Borkar
Milind BorkarinFounder & CEO

Investors · 6

Funding

SEC filings, press & company announcements

$18M disclosed across 2 rounds · 2024

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Aug 2026

Illuma Labs develops IllumaSHIELD, a voice security platform used by credit unions, banks, other financial institutions and contact centers to establish trust during voice interactions. The system performs passive voice authentication: as a caller speaks naturally, it analyzes voice characteristics and other signals in real time to verify identity, replacing or reducing reliance on security questions, PINs, passwords, passphrases and knowledge-based authentication.

The platform is organized around four layers: passive voice authentication, AI voice fraud and deepfake detection, Human + AI collaborative intelligence that surfaces authentication and risk information to agents, and adaptive multi-factor authentication. Adaptive MFA components include TrustedNumber, which can add confidence automatically, and one-time passcodes for cases requiring additional verification. Fraud detection targets AI-generated voices, voice cloning, caller impersonation, account takeover attempts and social engineering, and incorporates Reality Defender's real-time deepfake detection.

IllumaSHIELD is applied across inbound and outbound calls, IVA and IVR self-service, AI voice agents, help desks and service centers, and higher-risk interactions such as lending and collections. It is positioned to integrate with existing contact center technologies with implementations measured in days.

Business model

Illuma sells IllumaSHIELD as a voice security platform deployed alongside an organization's existing contact center and self-service voice infrastructure.

Traction

Reported customer outcomes include Financial Plus Credit Union reducing authentication time by 93% and average handle time by 14%, Mid-Atlantic FCU reporting roughly nine of ten members enrolling when offered voice security, and Sidney Federal Credit Union deploying IllumaSHIELD in three days.

Full profile — market position, technology, go-to-market

Market position

Illuma positions IllumaSHIELD as a unified voice security platform for financial institutions and contact centers facing AI-generated voice fraud, deepfakes and account takeover in the voice channel.

The platform authenticates callers based on voice characteristics rather than knowledge-based information that can be obtained through breaches, phishing or social engineering, and combines authentication with deepfake and AI voice fraud detection in a single layered platform designed for rapid deployment.

Technology

Passive voice biometrics that analyze unique voice characteristics during natural conversation, combined with AI-powered fraud detection, deepfake and voice-cloning detection (using integrated Reality Defender real-time deepfake detection), adaptive multi-factor authentication including TrustedNumber and one-time passcodes, and real-time risk intelligence delivered to agents.

Go-to-market

Direct sales supported by personalized demo requests on the company website and published customer success stories from credit union deployments.

Credit unions, banks and other financial institutions, contact centers, help desks and service centers, and other organizations operating live-agent, IVR/IVA and AI voice agent channels.

Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Authentication time reduction (Financial Plus Credit Union)Jan 202693%
Average handle time reduction (Financial Plus Credit Union)Jan 202614%
Deployment time (Sidney Federal Credit Union)Jan 20263 days
HeadcountAug 202631
Member enrollment rate when offered (Mid-Atlantic FCU)Jan 2026Approximately 9 out of 10 members enroll when offered

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 1

launches, deals, and filings
Jan 2026
IllumaSHIELD integrates Reality Defender deepfake detection

IllumaSHIELD incorporates Reality Defender's real-time deepfake detection capability within its voice security platform.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Research sources · 1

primary sources listed

1 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Illuma Labs do?
Illuma Labs builds IllumaSHIELD, a passive voice authentication and AI voice fraud detection platform for contact centers.
Who founded Illuma Labs?
Illuma Labs was founded by Milind Borkar in 2016.
Who are Illuma Labs's investors?
Illuma Labs's investors include Allied Venture Partners, Curql Collective, LLC, Forefront Venture, Next Level Ventures, Capital Factory, LiveOak Ventures.
How much funding has Illuma Labs raised?
Illuma Labs has disclosed $18M raised across 2 rounds.
Where is Illuma Labs headquartered?
Illuma Labs is headquartered in Plano, US.