Verisoul, a fraud prevention and digital identity platform focused on stopping fake accounts, bots and AI-driven abuse across online platforms, has secured new funding as it looks to scale its technology amid a sharp rise in sophisticated fraud attacks.
The company has raised $8.8m in a Series A funding round led by venture capital firm High Alpha, with participation from Lookout Ventures, Bitkraft, Bain Future Back Ventures and Third Prime.
Founded to address the growing challenge of verifying real users online, Verisoul provides an all-in-one platform that helps businesses identify and block fake users across the entire customer lifecycle. Its technology operates from the first interaction through to conversion and ongoing engagement, allowing organisations to detect fraudulent behaviour before it impacts revenue, data integrity or trust.
The platform combines real-time behavioural analysis with device and network forensics, alongside identity signals such as email intelligence and ID verification. These inputs are assessed using internally developed AI models and evaluated against customer-specific rules, producing a clear classification for each interaction. By relying on spoof-resistant forensics rather than passive data aggregation, Verisoul aims to remain resilient against increasingly advanced AI-powered fraud techniques.
The new capital will be used to significantly expand the company’s team, accelerate product development and scale its go-to-market efforts as demand increases from businesses facing rapidly evolving fraud threats.
Verisoul’s growth comes as AI-driven fraud volumes surge globally, with intelligent attack activity increasing by more than 250% year on year. As autonomous agents become capable of mimicking human behaviour and bypassing traditional security controls, companies across digital services, payments and financial services are facing mounting pressure to improve user verification without adding friction.
This momentum has translated into strong commercial performance for the company. Since raising its seed funding, Verisoul has scaled from zero to more than 100 customers and achieved over six times ARR growth in the past year. The company was also named “Emerging Startup of the Year” at the 2024 Austin A-List Awards, reflecting its rapid rise in a competitive fraud prevention market.
Verisoul co-founder and CEO Henry LeGard said, “Fake users are overwhelming the internet, and AI is making the problem exponentially worse for virtually every digital business. We started Verisoul to stop fraud at every moment throughout the user journey — empowering companies of all sizes and in all industries to ensure users are real, unique, and trusted.”
Customers using the platform span 12 industries, including advertising, market research, payments and financial services. The company says it wins more than 80% of competitive technical evaluations against incumbent providers, often replacing point solutions with its broader lifecycle-based approach.
Clay GTM engineer Yash Tekriwal said, “As our company grows, securing our user base against sophisticated fake accounts, data scraping, and payment fraud is non-negotiable. Verisoul has given us confidence in the quality of our signups and made a huge impact on our ability to track data credits and AI tokens. It’s a critical part of our fraud strategy as we scale.”
The company is led by LeGard, formerly the youngest Director at identity and fraud provider TransUnion, alongside co-founder and CPO Raine Scott, who previously led fraud and risk teams at Ahead Financial and Meta, and co-founder and CTO Niel Katkar, who worked on identity infrastructure at Capital One.
High Alpha co-founder and managing partner Scott Dorsey said, “In a world where fraud is costing companies billions and AI is weaponizing bad actors, Verisoul is building the next generation of digital trust. Verisoul’s growth trajectory is rare, driven by Henry’s vision, his exceptional team, and the technically superior solution they’ve developed. Verisoul’s platform doesn’t just block fake users — it is uniquely positioned to be the single source of truth for user integrity at high-growth companies.”
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