Prove Identity, a New York-based provider of digital identity solutions, raised $40 million in funding.

SaaS Investors

The round was led by MassMutual Ventures and Capital One Ventures. 

Founded in 2014, MassMutual Ventures is a multistage, global venture capital firm that manages over $1 billion in investment capital across the globe. Based in Boston, Massachusetts, the firm seeks to invest in enterprise software-as-a-service, cybersecurity, financial technology, health technology, and climate technology companies.

Capital One Ventures is a corporate venture capital arm of Capital One Financial based in New York, New York. Founded in 2014, the firm seeks to invest in early-stage, later-stage, and growth-stage companies that are driving the future of data, technology, and financial services.

Prove Identity Use of Funds

This funding will support Prove's global expansion and help address evolving threats in the digital economy. 

About Prove Identity

Prove Identity is a digital identity solution, offering identity verification and authentication services. Their platform allows businesses to create frictionless consumer experiences while maintaining security standards. The technology uses mobile phones for secure identity verification in various channels, including mobile, desktop, and in-store. Trusted by more than 1,000 businesses, including 9 of the top 10 U.S. banks, and serves a wide range of customers, including banks, cryptocurrency exchanges, retailers, healthcare companies, and insurance providers. 

Funding Details

Company: Prove Identity, Inc.

Raised: $40.0M

Round: Unknown 

Funding Month: October 2023

Lead Investors: MassMutual Ventures and Capital One Ventures 

Additional Investors:

Company Website: https://www.prove.com/ 

Software Category: Identity Solutions

Source: https://www.businesswire.com/news/home/20231016918437/en/