Persona raises $150M, renews development efforts in digital ID solutions and infrastructures
Persona has announced the closure of a US$150 million Series C funding round led by Founders Fund, with participation from BOND, Meritech Capital Partners, and existing investors Coatue Management and Index Ventures.
The move comes months after Persona closed a $50 million Series B round, and will now see the firm renewing its efforts in the development of trusted digital identity infrastructure and solutions, such as with the proprietary biometric technology behind the company’s video selfie liveness checks.
The Series C funding round brings Persona’s total amount raised to $217.5 million, and its valuation to $1.5 billion.
“Identity is at the core of every business, whether you’re a bank verifying an account holder, a marketplace corroborating sellers, or a company onboarding new employees,” commented Persona’s CEO Rick Song.
“But identity isn’t a one-off transaction — it’s a relationship,” Song added.
The Persona platform aims to establish this trusted relationship by enabling the collection, biometric verification, and management of individuals’ digital identities, together with the deployment of orchestration tools designed to streamline the process.
“With Persona’s identity infrastructure, businesses can go beyond verifications and build trust throughout the customer lifecycle by offering a safer, faster, and more tailored experience for each individual,” Song said.
A number of well-known firms are already using the Persona platform, including Square, DoorDash, and Coursera.
The fresh funds will now aid Persona to expand its team further and extend its offering to new customers.
“Persona is fast becoming the market leader in the identity space,” commented Napoleon Ta, Partner at Founders Fund.
“We’re confident that Rick and Charles [Yeh] will fulfill their vision of delivering the trusted identity layer for the entire internet. Founders Fund is thrilled to support Persona in scaling to meet global demand,” Ta concluded.
Persona has also recently launched a new orchestration tool dubbed Workflows, which features automation and customization options.
The deal continues a hot streak for digital ID investment, which also includes ID.me securing over $100 million this week.