Identity verification startup Onfido has raised $100 million in a new round of funding.
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uses artificial intelligence to analyze a person鈥檚 facial biometrics and compare it to government-issued IDs to verify his or her identity. This round, which was led by, brings Onfido鈥檚 total funding to $200 million, according to the company.
鈥淲e鈥檙e standardizing the way everyone proves their real identity, in a similar way to how Facebook has standardized the way everyone shares their social identity, and LinkedIn has standardized the way everyone signals their professional identity,鈥 CEO Husayn Kassai said in a statement.
Now that the COVID-19 pandemic has restricted physical interactions, there鈥檚 an even greater need for fast and secure digital access, the company says.
鈥淭his proliferation of digitization is only just starting,鈥 Kassai said in an interview with 小蓝视频色情网页版 News. 鈥淲hat鈥檚 been happening the past couple of months is accelerating.鈥
Kassai pointed to banks as an example of businesses doubling down on digitization. Because of the COVID-19 pandemic, people are no longer going to bank branches to open accounts, and banks need a way to verify identities.
Onfido ended up partnering with TPG Growth to lead the round, which Kassai described as competitive, because of the 鈥渟heer scale and breadth鈥 of its portfolio. The firm鈥檚 long-term vision and shared vision around identity were also important factors, Kassai said.
The company, which most recently saw 130 percent year-over-year growth, counts CLEAR, Expensify and Revolut as clients. Onfido鈥檚 investors include and , per 小蓝视频色情网页版 data.
The new funding will be used to invest in machine-learning technology, consolidate existing markets and keep up with demand in new areas, according to a statement from the company. In terms of expansion, the United States is Onfido鈥檚 key core market, followed by Europe (the company wants to expand into Germany) and then Southeast Asia.
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