Identity Verification Firm Veriff Raises $100 Million
Veriff, a provider of automated identity verification technology, announced this week that it has raised $100 million in a Series C funding round, bringing the total amount raised by the company to $200 million.
Led by Tiger Global and Alkeon, the latest funding round values the company at $1.5 billion.
Veriff says that its video-first technology leverages more than 1,000 data points and an AI-powered decision engine that can analyze more than 10,000 variations of government-issued IDs from over 190 countries in 40 different languages.
The company claims that it can identify signs of identity fraud that basic data extraction, still images, or biometrics can miss. Founded in 2015, Veriff has offices in the U.S., UK, Spain and Estonia, and more than 360 employees.
The additional capital will be used to support global growth, invest in R&D, and grow its sales and marketing teams.
The large series C funding comes less than a year after the company secured $69 million in Series B financing in April 2021.
Additional investors in Veriff include Y Combinator, IVP, Mosaic Ventures, Nordic Ninja, and others.