Estonian Selfie Authentication Startup Raises $69M in Series B
Summary
Estonian selfie authentication startup Veriff has raised $69 million in a Series B funding round. The news comes on the heels of Veriff’s launch of its Face Match solution, the latest offering in a booming selfie-based identity verification market. “Veriff is setting the standard for the IDV market and we’re proud to support Kaarel Kotkas and team as they build a large, mission-driven company,” asserted IVP general partner Jules Maltz. Accel partner Matt Weigand, meanwhile, called the startup an identity verification “powerhouse”, adding, “We look forward to supporting Veriff’s efforts to help companies prevent online crime and establish a vital aspect of their business: building trust with customers.” As a term of the financing, both Maltz and Weigand have been appointed to Veriff’s Board of Directors, where they join Mosaic Ventures co-founder and partner Simon Levene and Wise Chairman and angel investor Taavet Hinrikus. In a statement announcing the funding round, Veriff indicated that it will use the financing to “continue building on its fast-growing market opportunity in the U.S.,” with Kotkas asserting, “we look forward to partner up with more companies to solve their identity verification challenges and work towards bringing more trust online.”
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