Au10tix, a Nicosia, Cyprus-based cloud, machine learning, ID verification and authentication platform, received a $60m strategic minority investment from TPG Tech Adjacencies.
The investment from TPG gives AU10TIX a post-money valuation of $260m.
The company intends to use the funds to expand into new customer verticals and new markets.
Led by CEO Ron Atzmon and newly joined President and COO Carey Kolaja, Au10tix provides authentication and digitization of identifying documents including Passports, identity cards, driving licenses and other complementary identifying documents.
The company specializes in implementing hardware & software-based applications used for scanning, identifying, content retrieval, authentication and validation of identifying documents.
A subsidiary of ICTS International N.V., the company serves a customer base including global financial services companies and new economy standouts.