Vouched announces $3M funding round to grow biometric verification platform in new markets
Digital identity verification company Vouched has announced a $3 million funding round led by Flying Fish Partners, and with participation from Bankers Healthcare Group (BHG) and others. According to the announcement, the new funds will help Vouched to bring its biometric identity verification business to the European market and expand its offering to more customers in banking, healthcare, and fintech.
“Vouched was founded to provide rapid, secure, and seamless identity proofing for the next generation of digital activities,” said Vouched Co-founder and CEO John Baird. “The ability to see a person and verify their identity online is required for complex regulated activities such as Know Your Customer (KYC) in banking and the rise of Know Your Patient (KYP) in healthcare and telemedicine.”
According to the CEO, a growing number of transactions happen online, thus requiring the presence of a secure framework designed to prevent fraud.
“Increasingly, security-sensitive transactions such as peer-to-peer sharing of expensive goods like motorcycles, cars, and RVs also depend on identity verification. We are helping to meet those growing needs,” Baird explained.
Vouched already serves customers in the healthcare, banking, and fintech industries, offering identity verification capabilities, as well as end-to-end fraud detection capable of analyzing a series of datasets, including email, phone, and physical addresses.
The company’s platform uses artificial intelligence to perform document scanning and selfie biometric matching in a 2-step process covering noise, and low light situations for maximum accuracy.
Vouched’s API integration has been developed to facilitate integration within existing digital ecosystems and applications, according to the company.
The company recently partnered with Auth0 to bring its offering to the Auth0 marketplace and identity management ecosystem.