KKR takes the lead in $48 million round for digital identity provider Privy
Indonesian digital identity software provider Privy has announced that it has found a lead investor for its $48 million series C funding round.
That lead is diversified private equity firm KKR, better known as Kohlberg Kravis Roberts & Co., the legendary leveraged buyout pioneer.
Also participating are existing Privy investors MDI Ventures, a corporate venture fund for Telkom Indonesia; GGV Capital, a U.S./Singapore venture fund; Telkomsel Mitra Inovasi, an Indonesian venture fund and new investors including Singtel Innov8, a diversified consumer electronics firm in Singapore.
Privy, aka PrivyID, is a digital signature and digital identity software firm, which also provides biometrics. The funding will fuel efforts to strengthen its market position in Indonesia. It also will pay for new consumer and enterprise identity products, which it says will set the stage for international expansion.
Louis Casey, KKR’s growth technology lead in Southeast Asia issued a statement saying that “Privy has built an industry-leading platform that combines prime features, a user-friendly design, and secure and robust infrastructure.”