Prove Identity raises $40 million
Prove, a company offering digital identity solutions, has closed a $40 million round led by MassMutual Ventures and Capital One Ventures.
The company’s identity verification and authentication platform enables businesses to create “frictionless consumer experiences” without sacrificing security standards. Prove’s customers include 9 of the top 10 US banks, 2 of the top 3 global cryptocurrency exchanges, 3 of the top 5 US retailers, 2 of the top 3 US healthcare companies, and 6 of the top 10 insurance companies in the US.
The funds will be used to launch new commerce enablement and fraud-fighting use cases, continue Prove’s global expansion, and address the evolving threats faced by public and private institutions operating in the digital economy.
“As our daily lives become increasingly digital, Prove’s mission is to be the global standard for fast, secure, and privacy-first digital identity. This funding will further our work toward comprehensive digital identity solutions that secure the future for all.” – Rodger Desai, co-founder and CEO of Prove.
“Prove is driving a paradigm shift in how businesses and consumers interact securely. As consumers continue to experience risk in their engagement with brands, Prove’s solutions ensure that verified and authenticated information is being used, enabling brands to drive both loyalty and revenue. We’re delighted to continue supporting Prove as they redefine how we look at digital identity.” – Charles Svirk, partner at MassMutual Ventures.