I’m incredibly proud to announce that we’ve raised $30m from Crane Venture Partners and Microsoft Ventures, with participation from Salesforce Ventures, Idinvest, Wellington Partners and TempoCap. We’ll be investing this round of funding into expanding our international reach, as well as further R&D into our machine learning technology.
We’re thrilled that Scott Sage, Crane’s Co-founder and Partner, is joining our board. We’ve known Scott for many years and we’re delighted to have the opportunity to work with him more formally. When it comes to investors who understand software and data at the enterprise level, I can honestly say that there is no one better in Europe than Scott.
We’re also excited to welcome Microsoft Ventures onto the Onfido team. Building a deep tech company is hard - so Microsoft’s technical expertise and global reach will be crucial to helping us scale through the next chapter.
Why We Do This
We founded Onfido because we realised that our identities were becoming the key to unlocking access to online services. We’ve all had to jump through arcane, outdated processes to sign up for basic services like opening a bank account. The consumer hates it and so does the bank - 40% of people who start opening an account online don’t finish the process.
We’ve spent the past 5 years building machine learning technology to connect people to the online services they want to use, and to connect businesses to trusted customers. With just a photo of an identity document and a selfie, anyone can gain access to their favourite services.
In the long-term, verified legal identities will be the basis for accessing everything online - healthcare, voting and so much more. Just as Facebook brought our social identities online and LinkedIn did the same for our professional identities - Onfido’s vision is to become the provider of trusted legal identities in the digital age.
The Hard Work Starts Now
We’ve built an extraordinary 150-strong team across 3 continents. We’ve built the best verification API there is (ask your dev team if you don’t believe me). And we’re serving over 1,500 businesses globally.
We’ve achieved a lot and we owe a huge amount to our team, investors and customers - but there’s so much more to come.
This new funding will allow us to build out our US and European presence, as well continuing our strong growth in India and the rest of APAC. We’ll also be growing our product and engineering teams.
Building amazing products and providing incredible customer service are two things we’ve become known for. Continuing to do both of those things at scale - without losing pace - is really tough. But Husayn, Ruhul and I are still as hungry as we were on Day One to achieve our mission. And - luckily - we now have 150 team members and some illustrious new investors determined to help us do just that.