Payfone, a New York-based provider of mobile identity authentication for digital channels, raised $23.5m in Series E financing.
The round was led by BlueCross BlueShield Venture Partners and Andrew Prozes with participation from Strauss Zelnick, Maclab Development Group and Transaction Network Services, RRE Ventures, Opus Capital, Relay Ventures, Early Warning Services, American Express Ventures, Verizon Ventures and Rogers Venture Partners. In conjuntion with the funding, Mike Spadafore of Sandbox Industries, on behalf of Blue Cross Blue Shield Venture Partners, and Andrew Prozes, the former global CEO of LexisNexis, joined Payfone’s Board of Directors.
Payfone develops mobile identity authentication for digital channels,
Led by Rodger Desai, CEO, Payfone provides businesses and their customers with a patented mobile authentication tech solution that protects against identity theft and social engineering attacks from professional attackers, limiting fraud losses and authentication related expenses while driving customer engagement.