Veriff provides AI-powered video identity verification, analyzing more than 1,000 data points and user behavior to automate and improve ID decisions compared with still-photo approaches. The company says its video approach is more accurate than face-to-face authentication and helps prevent fraud. Veriff reported verification volumes grew more than 8x last year (20x in the U.S.), financial-services verifications grew 10x, and customer growth was 150%. The startup will use the new financing to grow its workforce and invest in R&D, sales, and marketing. CEO and founder Kaarel Kotkas framed the opportunity as massive, noting billions of people online will drive tens of billions of annual verifications as services require IDV. Veriff is a global online identity verification company that enables organizations to build trust with customers through intelligent, accurate, and automated online IDV. Its intelligent decision engine analyzes thousands of technological and behavioral variables in seconds, matching people to more than 9,000 government-issued IDs from over 190 countries. The company serves a global portfolio of organizations across fintech, crypto, and mobility sectors. Founded in 2015 by Kaarel Kotkas, Veriff is based in Tallinn, Estonia and New York City and has a team of more than 250 people from 34 nationalities. Veriff secured $69M in Series B financing, bringing total funding to date to $92.8M. The company intends to use the funds to continue to grow in the U.S. Veriff provides an identity verification and protection platform that combines machine learning with human analysis to verify user identities and detect fraud. The company says its system can confirm IDs from over 190 countries in 35 languages. Veriff is focused on expanding internationally and selling to more enterprise customers, and is preparing for a larger Series B. The Tallinn-based startup acquired Estonian network intelligence company BrowserID last year. Veriff participated in Y Combinator in 2018 and has raised $23.8 million since its start in 2015. Management cites signed agreements with major Silicon Valley players as evidence of growth and market traction. Veriff builds live video–based online identity verification delivered as a developer-friendly API, positioning itself as a 'Stripe for identity'. Its technology records and analyses frames from live video alongside device and network signals, using hundreds of data points and machine learning for document validation and face comparison. The product is offered as SaaS with published pricing of €49 per month plus €2 per verification. Veriff says it has over 40 paying customers across financial enterprises, marketplaces, sharing-economy companies and e-commerce sites. Founder Kaarel Kotkas, who went through Y Combinator's W18 batch, leads the company and claims the approach yields high conversion rates while maintaining robust fraud detection. Development and customer service are based in Tallinn, Estonia, and the company plans to move sales and marketing operations to the U.S.

Total raised

$192M

Funding rounds

4

Latest round

Series C

Latest activity

Jan 2022