Vouched, a Seattle, WA-based AI-driven identity verification platform, announced $6.3 million in funding, bringing its total raised to $18 million.
BHG VC and SpringRock Ventures led the round, with participation from previous investors Darrell Cavens and Mark Vadon.
The latest funding will be used to improve the company's platform, recruit top-tier talent, and expand its support for financial services and healthtech businesses.
"Vouched delivers the industry's most accurate and seamless identity verification AI, enabling companies to securely accelerate onboarding, provide frictionless customer experience, and unlock new growth opportunities," said John Baird, CEO, of Vouched. "We look forward to enhancing the value of our identity verification platform to the healthcare market, and ensuring we remain a trusted partner-of-choice for businesses in highly regulated markets who want a solution that can prioritize both compliance and growth."
Vouched's plans for expansion build on the company's rapid growth in the last year. Its proprietary artificial intelligence and computer vision platform now covers more than 85% of the world's population.
Company: Woolly Labs, Inc.
Funding Month: February 2023
Lead Investors: BHG VC and SpringRock Ventures
Additional Investors: Darrell Cavens and Mark Vadon
Company Website: https://www.vouched.id/
Software Category: Identity Verification, KYC, and AML Software
About the Company: Vouched is a provider of AI-based identity verification for regulated and commercial businesses that need to quickly and accurately verify individuals to provide access to services while minimizing fraud risk. Vouched accelerates revenue growth and provides a seamless user experience by rapidly and securely verifying and onboarding end users through a sophisticated, end-to-end visual ID verification and fraud detection solution. It delivers identity verification for anyone, anywhere, providing a multi-dimensional, dynamic verification of any individual's identity, including hard-to-identify populations. More than 300 banks, fintechs, and healthcare providers, including Alloy and Hims Health, now use the service. Vouched serves disruptive startups, fast-growing unicorns, and the Fortune 1000 enterprise.