Atlanta-based identification and cybersecurity startup Evident ID has raised $20 million in a Series B round led by Aspect Ventures, with participation from New Enterprise Associates, Blue Cloud Ventures and Internet Security Systems founder Tom Noonan.
The company will use the funding to broaden its existing tech infrastructure, including deepening its investment in AI and machine learning, computer vision and facial recognition technologies. The startup also plans to expand its team in Atlanta, according to a news release.
“Evident is solving the most complex identification problems for high-volume businesses with sensitive applications by verifying millions of attributes in a secure and efficient way,” David Thomas, CEO of Evident ID, said in a statement. “With this new infusion of capital, we can scale to meet the increasing demands of current customers and marketplaces, as well as continue to grow in additional markets and industries including insurance, healthcare and financial services.”
The company has seen 300 percent year-over-year customer growth. Its platform verifies identity using business licenses, biometrics, insurance, criminal history and more. The platform allows business to know who they are registering, hiring, onboarding or verifying using end-to-end cryptography and machine learning to meet privacy requirements.
"Increasing data privacy regulation, data breaches and online-offline interactions facilitated via the internet require companies to become arbiters of trust. To reliably fulfill that role, they are seeking solutions to verify personal information for their stakeholders without having to handle personal data themselves," Lauren Kolodny, partner at Aspect Ventures, said in a statement.
Customers of Evident ID include Airbnb, Porch, Wonolo and WAG! Evident ID was founded in 2016 and raised $8.8 million in a series A round in 2017 from New Enterprise Associates, TechOperators, Lane Bess, founder of Bess Ventures and Advisory and Mike Potts, an angel investor and CEO of AirDefense. To date, the company has raised a total of $28.8 million, according to Crunchbase.
