SheerID provides a platform that lets brands create offers honoring and recognizing consumer tribes, which it says increases trust, word‑of‑mouth and reduces customer acquisition costs. The system gates personalized offers for segments such as the military, students and teachers via instant verification from 9,000 authoritative data sources and 1.3 billion identity attributes. SheerID reports global insights from over 200 of the world’s leading brands and states it never shares or sells customer data. The company has grown its customer base to more than 200 customers, including Fortune 2000 brands such as Target, Amazon, Lowe’s, Comcast, Google, T‑Mobile and Urban Outfitters. SheerID plans to use the new funding to expand marketing, sales and engineering and to broaden its platform so companies in all geographies can engage a wider range of consumer tribes. SheerID is a Portland, Ore.-based provider of a digital verification technology platform for enterprises. The platform instantly verifies credentials of individuals or businesses using authoritative data sources within an organization’s brand experience. It enables enterprises to deliver exclusive offers and experiences to high-value segments such as the military, students, and teachers while mitigating discount fraud and reducing friction in the user experience. Clients include Lowe’s, Target, Microsoft, Adobe, Sprint, TOMS, Spotify, Foot Locker, Costco, and Amazon. The company has more than 50 employees and plans to grow marketing, sales, engineering, and other teams. SheerID intends to use the funding to accelerate product innovation and market adoption across all digital commerce categories. SheerID builds a customer verification platform that enables companies to confirm eligibility for group-specific offers (for example, veterans, teachers, and college students) without exposing customers' underlying personal data. Its request-processing technology bridges a client's buying flow and authoritative data sources by bumping customer-provided data (usually first name, last name, and DOB) against those sources and returning an instant yes/no match. The company serves more than 160 customers, including Costco, Best Buy, Amazon.com, and Spotify, and supports verifications such as Spotify's college-student discounts. Founded in 2011 and headquartered in Eugene, Ore., with a satellite office in Portland, the company employs 36 people. SheerID recently raised $2.9 million led by Voyager Capital from existing institutional and angel investors, bringing total funding to date to $16 million. The new funding will support expansion and product projects, including enabling student verification in 38 countries outside the U.S. SheerID, launched in 2011 and based in Eugene, Oregon, provides enterprises with an eligibility verification platform. The platform accurately and instantly verifies whether customers qualify for special offers such as student, active duty military, veteran, first responder, or teacher offers. Its service protects the exclusivity of offers and helps eliminate fraud. The company’s verification services can be configured for e-commerce websites, internal customer sales/support systems, mobile applications, or POS systems. Customers include DIRECTV, Best Buy, Newegg, Anthropologie, Tommy Hilfiger, Foot Locker, Costco, and Amazon. SheerID raised $5.3M and intends to use the funds to continue to scale into new markets and geographies.

Total raised

$90M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2019