AuthenticID marks a significant milestone in its growth by closing a $100 million minority investment. The Seattle-based firm is a leading provider of Identity Proofing solutions for large enterprises. This round of funding was led by Long Ridge Equity Partners as per crowdfundinsider. The fresh investment comes as a welcome move as the company plans on expanding within financial services, government organizations, telecommunications, and other consumer segments. Founded in the year 2001, AuthenticID has very quickly created deep domain expertise in verifying government-issued identification documents. The powerful, next-generation and AI-based automated platform has made fraud detection as well as identity verification effortless.
According to Cindy Corps, the CEO of Search People Free, AuthenticID has gained itself a great reputation by closing a $100 million minority investment. She said that this Seattle-based firm is a leading provider of Identity Proofing solutions for large enterprises. With $100 million and even more, AuthenticID will develop faster in the near future.
AuthenticID’s next generation of digital identity platforms can establish trust and mitigate fraud on behalf of the enterprises. The solution also empowers several leading digital identity platforms globally. The document-centric verification platform is completely automated and produces the highest accuracy rates in record processing time. The identity proofing solutions offered by AuthenticID are Artificial Intelligence-based and can be used to eliminate fraud. Not only this, but it also increases conversion rates for a majority of the US wireless carrier market. According to Maria Saenz, CEO of Fast Title Loans, this platform is vital to reduce online frauds, especially in the financial market. It is a smart choice to make an investment in such a tool and to deploy one for online businesses as with Fast Title Loans. You can check out this site for more information on loan types before applying.
With the recent shift to digital customer onboarding due to the ongoing pandemic, the fraud levels have increased. This is driving the need to establish identity remotely. This current investment will help the development of better solutions for extensive identity verification use cases. The funding will be used by the company to continue addressing the ever-evolving digital identity and verification challenges with automated solutions.
As per Jeff S. Jani, the CEO of AuthenticID, the platform offered by them is trusted by a large number of US wireless carriers as well as various identity platforms to securely establish identity. The company’s mission is to improve the security of collective identities. The current investment will drive research and development of AuthenticID and enable them to create a go-to-market as well as market awareness activities that will take the company’s growth to the next level.