Biometric Face Authentication Firm iProov Takes $70M Investment
iProov, a provider of online biometric face authentication, announced on Thursday that it has received a $70 million growth investment from Sumeru Equity Partners.
Launched to the public in 2013, iProov helps customers verify customer identity and protect against spoof attacks from photos, videos, masks, and even deepfakes.
Used for onboarding and authentication, iProov says customers including the U.S. Department of Homeland Security, the UK Home Office, the UK National Health Service (NHS), the Australian Taxation Office, GovTech Singapore, Rabobank, and ING are using iProov’s technologies to help ensure that an online customer is the right person, and a real person attempting to authenticate a login or transaction.
Sumeru’s investment will help drive iProov’s ability to scale in the U.S. and worldwide and maintain its position at the forefront of biometric innovation with patented technology.
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iProov says it has tripled its revenues from 2020 to 2021, and has procesed more online verifications during one 10 day period in 2021 than in the whole of 2020.
“Our potential is enormous and we now have the resources to scale in the United States and worldwide. Our strong balance sheet will give our customers and partners confidence in our long-term ability to keep them and their customers secure,” said Andrew Bud, Founder and CEO of iProov.
Founded in 2011, iProov has offices in London, Maryland and Singapore.