Verituity, a McLean, Virginia-based provider of intelligent, verified payouts solutions, raised an $18.8 million funding round. 

Investors

The round was led by Sandbox Industries and Forgepoint Capital, with participation from Ardent Venture Partners and MTech Capital. 

Sandbox Industries is a venture capital firm located in Chicago, investing in technologies driving lasting change in human livelihoods, transforming healthcare, food & agriculture, and insurance & financial services. Sandbox also provides innovation consulting through Sandbox Advisors. 

Forgepoint Capital specializes in cybersecurity and infrastructure software, managing over $1 billion in assets and a portfolio of nearly 40 companies. Founded in 2015 and based in the San Francisco Bay Area, Forgepoint leverages its extensive industry expertise and network to support innovative entrepreneurs globally. 

Verituity Use of Funds 

The company will use the fresh funds to expand into key sectors such as banking, insurance, mortgage servicing, and energy markets. Additionally, the funding will accelerate Verituity's innovation efforts in advanced machine learning and artificial intelligence. 

About Verituity 

Verituity provides a verified digital payments platform that connects banks, businesses, and payees for first-time and on-time digital payouts. Specializing in orchestrating secure B2B and B2C payments through advanced machine learning and artificial intelligence, its platform minimizes risks, optimizes payout economics, and ensures timely digital payments to the correct payee and account. Verituity is headquartered in McLean, Virginia, with an additional office in Atlanta, Georgia. 

Funding Details                                  

Company: Verituity, Inc.  

Raised: $18.8M    

Round: Unknown  

Funding Month: June 2024                                               

Lead Investors: Sandbox Industries, Forgepoint Capital  

Additional Investors: Ardent Venture Partners, MTech Capital  

Company Website: https://verituity.com/   

Software Category: Verified Payouts Solutions 

Source: https://www.businesswire.com/news/home/20240621455031/en/