Evident offers a SaaS platform that extracts and digitizes data from certificates of insurance and other evidence to provide initial verification and ongoing monitoring of third-party insurance. Its solution automates verification, compliance remediation, verification decisioning, and insured re-engagement to reduce third-party risk and improve compliance rates. The company serves enterprise customers across grocery, retail, convenience stores, manufacturing, lending and transportation. Evident says recent product milestones enable automation of more than 90% of the insurance verification process. It has formed strategic partnerships with insurers including Vouch Insurance and NEXT Insurance to connect enterprise customers and vendors with coverage solutions. The company positions its automated approach as an alternative to costly, error-prone home-grown systems and traditional service providers. Evident ID operates an Identity Assurance Platform that verifies identity and credentials holistically by connecting to thousands of authoritative sources via a single API. The platform assesses online and offline factors—business licenses, biometrics, insurance, criminal history and more—and supports step-up and continuous verification with end-to-end cryptography. Evident emphasizes privacy-preserving machine learning and computer vision, including facial recognition, to reduce friction while mitigating fraud. The company reports 300% year-over-year customer growth, which investors cited as a key driver for the latest financing. With the new capital, Evident plans to deepen investments in AI, machine learning, computer vision and facial recognition technologies. It will also expand its team to meet rising demand across marketplaces and high-volume, sensitive applications. Evident is targeting additional growth in industries including insurance, healthcare and financial services. Evident offers a cloud-based platform that enables businesses and individuals to manage and share verified personal data using cryptography. Led by founder and CEO David Thomas, the company provides verified personal data sharing tools for both enterprises and consumers. Evident is based in Atlanta, GA and currently serves customers in 65 cities across 23 countries. In September 2017 the company raised $8.8M in a Series A financing. The company said it will use the funds to continue to expand operations across its customer footprint. The product and expansion focus target greater adoption of verified personal-data exchange and cryptographic protections.

Total raised

$43M

Funding rounds

3

Latest round

Series C

Latest activity

Sep 2022