User and employee verification platform ID.me has raised up to $8.3m in a new funding round, a filing with the US SEC shows.
The RegTech company is looking to raise $12.5m in the funding round, but it is unclear whether this figure is a hardcap.
So far, there have been 32 investors to contribute to the funding round.
ID.me previously raised $19m in its Series B back in 2017 from investors including FTV Capital. It used the capital to increase its sales, marketing and product development efforts.
The US-based RegTech platform offers identity verification, in-person identity proofing, document verification, KYC verification and SCRA monitoring. Its services are used in the financial services, healthcare, government and e-commerce sectors.
The technology verifies an individual’s identity by leveraging remote verification of physical IDs, mobile network operator (MNO) data, along with fraud and compliance checks.
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