US identity verification company Vouched has secured $4.5m in capital from a highly subscribed funding round.
The company received investment from Darrell Cavens and Mark Vadon, who are the co-founders of e-commerce business Zulily. Vouched also secured baking from Bankers Healthcare Group, Professional Bank, Flying Fish Partners and Ascend.vc.
Following this recent capital raise, Vouched has now raised a total funding amount of £12m.
Founded in 2018, Vouched uses AI to help over 150 companies across a range of industries verify the identity of their customers, contractors and clients. The firm’s software analyses images of photo identity documents including driving licences and passports.
The technology is then able to compare the selfie of a user to confirm their identity. The software is also able to examine text such as addresses.
According to Vouched, the idea of its technology is to provide fraud-detection of a person in real-time. The company uses its technology in banking, employment screening, gig economy hiring, contactless hotel check-in and more.
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