AI identity verification platform startup Vouched raises $6
Artificial intelligence identity verification platform startup Vouched today announced that it has raised $6.3 million in new funding to enhance its platform, increase its headcount and extend support to financial services and health tech businesses.
Founded in 2018 as Wolly Labs Inc., Vouched offers an AI-enhanced platform for regulated and commercial businesses that need to verify individuals quickly and accurately to provide access to services while minimizing fraud risk. The platform provides multidimensional, dynamic verification of any individual’s identity, including hard-to-identify populations, according to the company.
Vouched claims it’s the only identity verification solution that can adapt to ensure customer growth and acquisition goals are met while maintaining compliance requirements. It does that through a deterministic decision process that according to Vouched offers secure visual identification that meets compliance requirements.
The service plugs into any platform, language or app. Users can configure Vouched’s application programming interfaces and software development kits to work in lockstep with their products to get more out of their existing tech stack, the company says.
Compliance is critical to the Vouched offering, with support for unique identity and Know Your Customer needs across regulated and sensitive industries such as finance, healthcare, the gig economy, real estate and cryptocurrency exchanges, among others.
Vouched serves more than 300 banks, fintech and healthcare providers. Notable customers include LePrix Inc., WireSecurity LLC, Fernish Inc., Alloy Labs Inc., Hims Inc. and Rentify Inc.
“Vouched delivers the industry’s most accurate and seamless identity verification AI, enabling companies to securely accelerate onboarding, provide frictionless customer experience and unlock new growth opportunities,” John Baird, chief executive officer of Vouched, said in a statement.
BHG VC and SpringRock Ventures LLC led the Series A round, with previous investors Darrell Cavens and Mark Vadon also participating. Vouched has raised more than $18 million to date.