Estonian startup Veriff, provider of an identity protection platform, has raised $15.5 million to fuel global growth and sell to more enterprise customers, as the company prepares for an even larger Series B round in the future. Investors include previous backers Y Combinator and Mosaic Ventures as well as new ones, such NordicNinja VC and Change Ventures.
With a combination of machine learning and human analysis, the platform verifies user identities and detects fraud. According to the website, Veriff can confirm IDs from over 190 countries in 35 languages.
Commenting on the investment, managing partner of NordicNinja Rainer Sternfeld said, “Veriff has been able to significantly grow their business, successfully enter the market in the UK as well as in the US, and signed agreements with some Silicon Valley’s biggest players,” adding that the Estonian platform is “an essential service with a potential to reach every person on the planet.” The Tallinn-based startup has raised $23.8 million since its start in 2015, participated in Y Combinator in 2018 and acquired Estonian network intelligence company BrowserID last year.
Photo: co-founders Janer Gorohhov and Kaarel Kotkas