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Vouched seeks more growth after $6.3M in venture funding

Vouched seeks more growth after $6.3M in venture funding
 

Identity verifier Vouched says it has closed a $6.3 million round of funding led by BHG VC, SpringRock Ventures.

Vouched executives say they will use the money to increase further the firm’s rapid growth over the last year. In fact, they say the company’s platform can verify 85 percent of everyone on Earth

The executives say that 300 banks, fintechs and health-care companies are customers. Vouched performs liveness checks against scanned photo identification for digital ID verification in general and KYC.

Kirsten Morbeck, managing director of SpringRock, said in a prepared statement: “Vouched has built an automated, AI-powered, proprietary solution that is faster, more accurate, more configurable, more scalable and less expensive than existing solutions.”

Prior independent investors Darrell Cavens and Mark Vadon also participated in the financing.

Vouched closed a $4.5 million round in August 2021, which Cavens led. Then, too, Vouched executives were looking to sweeten the firm’s growth. At the time, the company had 150 KYC and selfie biometrics customers.

The round is the fourth for Vouched, and Crunchbase calls it a venture round.

The company is also part of a consortium providing technology to screen the identities of people hosting Ukrainian war refugees.

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