Alloy, a NYC-based identity decisioning platform for banks and fintech companies, raised $100m in Series C funding.
Lightspeed Venture Partners’ Justin Overdorff led the round with participation from existing investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures, bringing the company’s valuation to $1.35 billion and the total amount raised to over $150m.
The company intends to use the funds to further expand the team across all functions of the business and its product offerings.
Led by co-founder and CEO Tommy Nicholas, Alloy provides a dynamic platform that connects users to more than 120 data source products to help them verify identities and monitor transactions – giving them a holistic view of each customer from the day they onboard and throughout their time with their organization.
The company currently services over 200 clients including Ally Bank, HMBradley, Gemini, Ramp and Evolve Bank & Trust.