Prove Identity, a NYC-based provider of digital identity solutions, raised $40M in funding.
The round was led by MassMutual Ventures and Capital One Ventures. Charles Svirk, Partner at MassMutual Ventures, will be joining Prove’s Board of Directors.
The company intends to use the funds to launch new commerce enablement and fraud-fighting use cases, continue global expansion, and address the evolving threats faced by all public and private institutions operating in the digital economy.
Led by CEO Rodger Desai, Prove provides an identity verification and authentication platform that enables businesses to create frictionless consumer experiences without sacrificing security standards as new fraud vectors – including those fueled by AI advancements – continue to emerge. With its identity verification and authentication platform and Prove Identity Network, used digital transactions are assured throughout the user journey. More than 1,000 businesses use it to boost revenue, improve customer acquisition, enhance cybersecurity, mitigate fraud, and eliminate costs of legacy identity verification solutions. Customers include 9 of the top 10 U.S. banks, 2 of the top 3 global cryptocurrency exchanges, 3 of the top 5 U.S. retailers, 2 of the top 3 U.S. healthcare companies, and 6 of the top 10 insurance companies in the U.S.
Within the past year, the company announced partnerships with Visa, FanDuel, and Experian, launched Prove Auth, a solution for passwordless login and omnichannel authentication, opened its India Engineering & Technology Hub, and announced a partnership in the Brazil market with e-Safer.
FinSMEs
17/10/2023