Security Experts:

ID Verification Firm Veriff Lands $69 Million in Series B Funding

Veriff, a provider of automated identity verification technology, today announced that it has secured $69 million in Series B financing, bringing the total amount raised by the company to $92.8 million.

Led by investment firms IVP and Accel, the company says the Series B funding will be used to support growth in the U.S. and development of its ID verification offerings.

Veriff says that its video-first technology leverages more than 1,000 data points and an AI-powered decision engine that can analyze more than 9,000 variations of government-issued IDs from over 190 countries in 36 different languages.

Veriff LogoThe company claims that it can identify signs of identity fraud that basic data extraction, still images, or biometrics can miss. 

Founded in 2015, Veriff has offices in the U.S., UK and Estonia, and more than 250 employees. 

The company says it tripled the number of customers and experienced a 6X growth in annual recurring revenue in 2020.

Other investors in Veriff include Y Combinator, Mosaic Ventures, Nordic Ninja, and others. 

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For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.