Microsoft's M12 invests in identity verification technology startup

https://youtu.be/OCnipoWmrRM

Onfido is an identity verification technology startup. Instead of relying only on human for documents verification, Onfido’s document verification and facial biometrics technology lets your users verify themselves anywhere, anytime. Its hybrid of artificial intelligence and human experts catches more fraud combined than either alone. Onfido recently announced that it has raised $50M in funding with participation from Microsoft’s M12.

Onfido will use this investment to accelerate usage of AI to standardize the way businesses verify identities in a scalable and secure way. It will help Onfido consolidate its core market in the USA, accelerate Onfido’s expansion into high-growth regions including Europe and South-East Asia as well as advancing product development.

“We’re seeing new data breaches occur every day, resulting in millions of people’s private data ending up on the dark web,” said Husayn Kassai, CEO and co-founder of Onfido. “With this new funding, we can protect more businesses, in more countries—and in more ways—from the effects of fraud. We’ll also be able to expand the reach of our technology, so that people without a credit history can finally access the online services they badly need.”