Liminal sees acquisitions ahead for digital ID companies ‘to watch’ in 2022
Digital identity advisory firm Liminal has published a new list of companies actively working on some of the most innovative digital identity solutions in the industry.
The article on Liminal’s year’s prediction blog mentions 14 growth companies, eight startups (firms founded after 2017 that have at least three customers), and three more mature companies.
Socure is also mentioned in the Liminal report, months after it announced plans for the $450 million the company raised in a Series E round last November, alongside Trulioo, which just appointed a new CPO.
“We’re watching Trulioo’s continued push into business and entity verification, as this previously underserved market heats up driven by digital transformation across every layer of the B2B transaction lifecycle,” the Liminal article reads.
Several other companies specializing in selfie biometrics are present on the list, including Onfido, which Liminal points out has been ‘relatively quiet on the Mergers and acquisitions (M&A) front in 2021,’ but according to the advisory firm will renew its M&A efforts in 2022 as ‘buyers continue to demand full-stack solutions.’
“Accelerated both by COVID, and the increasing consumer shift towards mobile channels across industries, liveness detection capabilities were the hot commodity of 2021,” Liminal states.
“With several segment players coming off the board via M&A, look for iProov to fight for dominance in a segment with just a handful of competitive solutions.”
Other noticeable names on the list include Yoti, which has continued to be particularly active in the UK since the start of the year, and Prove, weeks after the company entered a new partnership with non-profit organization The Knoble.
“Prove’s identity network has few peers in the market today,” Liminal writes. “We’re watching to see how they leverage core strength in financial services to take on new verticals and use cases.”