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Australian-American biometric IDV startup Data Zoo raises over $22M to fuel expansion

Australian-American biometric IDV startup Data Zoo raises over $22M to fuel expansion
 

Data Zoo, a biometric identity verification provider based in Sydney, Australia and Jersey City, New Jersey, has raised $22.7 million in series A funding from Ellerston Jaade to fuel further innovation with its software and encourage its adoption.

The company says it draws on data from more than 170 countries, and uses advanced data sequencing to improve efficiency and increase conversions. Data Zoo also avoids identity data storage, reflecting a prioritization of data protection and privacy, according to the company announcement. Identities are automatically verified or retried by reference to the next best data source, which the company says reduces drop-off rates and lowers the total cost of ownership.

KYC and AML software IDUX was launched by Data Zoo in 2022 help businesses meet their compliance requirements with face and voice biometrics.

Data Zoo’s customer base includes financial institutions, payment providers and fintechs.

Data Zoo CEO Charlie Minutella says the new funds will be used to boost the company’s capacity in important markets, attract new customers and form new strategic partnerships. The company is also planning a global expansion.

Minutella was recently appointed as CEO, and previously served as an executive with the London Stock Exchange Group.

“There’s been a long-standing need for a more efficient and secure way to verify identities,” says Tony Fitzgibbon, founder and chairman of Data Zoo. “Data Zoo has spent years refining its solution – the result has been incredible innovation, UX optimization, and growth in a fiercely competitive market, putting us head-to-head with today’s most established identity providers.”

“Data Zoo’s innovative platform and success in expanding its operations internationally, especially into challenging markets like North America, were key factors in our decision to invest,” says David Leslie, investment director at Ellerston Jaade.

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