Dec 18 (Reuters) - Cybersecurity startup Bureau has

secured $30 million in a funding round led by Sorenson Capital

to expand its presence in new markets, it said on Wednesday.

The company focused on preventing user identity fraud was

valued at around $150 million in the Series B funding, a source

familiar with the deal said.

PayPal's ( PYPL ) venture arm PayPal Ventures and existing investors

Commerce Ventures, GMO Venture Partners, Village Global, Quona

Capital and XYZ Ventures participated, Bureau said.

Customers are looking to secure their business operations

from cyberattacks, which have hit corporations such as Microsoft ( MSFT )

, UnitedHealth Group ( UNH ) and Walt Disney ( DIS ).

"We are seeing a lot of demand. We need to support that with

sales and marketing efforts," founder-CEO Ranjan Reddy told

Reuters.

Bureau's customers include India's ride-hailing company

Rapido and IDFC First Bank and it is planning to expand

operations to Saudi Arabia, North America and Mexico, Reddy

said.

The company's Money Mule Score tool helps customers identify

suspicious entities that may be involved in money mule

activities.

Money mules are individuals who, intentionally or

inadvertently, transfer illegally obtained funds on behalf of

criminals, often as part of fraud or money laundering schemes.

The startup employs 85 employees and aims to expand the

headcount to 120 by 2025 end as it hires machine learning

engineers and data scientists to boost its AI products.