Alloy, a New York-based leading identity decisioning platform for banks and fintech companies, announced that it raised an additional $52 million in Series C funding.
The round was led by Lightspeed Venture Partners and Avenir Growth with participation from existing investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures, bringing the company's valuation to $1.55 billion.
The funding will help the company as it accelerates its growth to address the global demand for fraud prevention tools.
Alloy enables clients to pull in customer information, traditional credit bureau data, and other alternative data through a single point of integration, providing a complete picture of their customers.
Earlier this month, the company announced its global expansion into 40 countries across North America, EMEA, LATAM, and APAC.
Company: First Mile Group, Inc.
Raised: $52.0M
Round: Series C
Funding Month: September 2022
Lead Investors: Lightspeed Venture Partners and Avenir Growth
Additional Investors: Canapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures
Company Website: https://www.alloy.com/
Software Category: Identity Verification
About the Company: Alloy is an identity verification API company founded in 2015 by Tommy Nicholas, Laura Spiekerman, and Charles Hearn, Alloy was built to help connect banks and fintech companies to more sources of KYC, AML, and other compliance data. Alloy helps 300 banks and fintech companies across the world reduce friction between them and their customers by seeing beyond their addresses and social security numbers. Alloy's platform connects companies to more than 160 data sources of KYC/KYB, AML, credit, and compliance data through a single API to help create a future without fraud. The company currently serves banking and fintech companies including Ally Bank, HMBradley, Gemini, Ramp, and Evolve Bank & Trust, processing over a million decisions daily.
Source: https://www.prnewswire.com/news-releases/alloy-raises-52-million-in-additional-funding-to-accelerate-growth-and-global-expansion-301615371.html