Identity verification and authentication company Incode this week announced that it has reached unicorn status after closing a $220 million Series B funding round.
The new investment, which comes seven months after the company’s Series A funding, has boosted Incode’s valuation to $1.25 billion.
The funding round was led by General Atlantic and SoftBank, but Capital One Ventures, Coinbase Ventures and J.P. Morgan participated as well, along with SVCI (Silicon Valley CISO Investments) and existing investors 3L Capital, DN Capital, Dila Capital, Framework Ventures, and others.
Founded in 2015 and headquartered in San Francisco, California, Incode provides a platform for comprehensive identity management, from onboarding customers to enabling seamless authentication for them.
Completely automated and built on the company’s technology stack, Incode’s solution aims to deliver real-time responses and better prevent fraud.
Incode’s “omnichannel” identity platform is available for all types of organizations, including government agencies, banks, enterprises, financial institutions, and entities in the hospitality and retail sectors.
Through biometric checks, the solution enables users to easily make payments, authorize transactions, log into applications and services, and more.
“Our ‘One Identity Everywhere’ vision is transforming the way humans experience their identity journeys with companies. We have created an experience that is so seamless and frictionless, it brings that ‘Wow’ moment to the end customer when onboarding to a new bank, checking into a hotel or being admitted to a hospital,” Ricardo Amper, founder and CEO of Incode Technologies, said.