Prove raises $100M for its mobile phone-based digital verification and ID platform
TechCrunch reporter Ingrid Lunden covered the news of our $100 million funding round led by Apax Digital in an exclusive last week.
“As an increasing number of daily and essential services move to digital platforms — a trend that’s had a massive fillip in the last few months — having efficient but effective ways to verify that people are who they say they are online is becoming ever more important,” Lunden writes. “Now, a startup called Prove, which has built a B2B2C platform to identify and verify people using data (but no personal data) gleaned from your mobile phone, has raised $100 million to expand its business.”
Lunden also notes that the market for authentication and verification services is projected to grow to $12.8 billion by 2024, according to MarketsandMarkets. She goes on to explain that while “there seems to be an almost infinite amount of variations, approaches and companies offering services to carry out the work… there’s also a push to develop more seamless and user-friendly, and essentially invisible, approaches, and that’s where Payfone sits.”
Lunden also highlights that Payfone’s commitment to and focus on protecting users and their data privacy has been a differentiator and has helped it stand out to investors.
Read the full article at TechCrunch.
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Prove's Developer Portal helps businesses balance strong security with a smooth user experience by providing developers with the tools they need to easily integrate identity verification into their applications, leading to streamlined onboarding and reduced fraud.
This blog explains the importance of identity verification APIs for secure and compliant applications, but also warns about common pitfalls in their implementation. It aims to guide developers on how to avoid these mistakes to ensure effective identity verification, improve user experience, and build trust in their digital platforms. The blog will delve into five specific mistakes and provide solutions, ultimately helping developers save time, reduce risks, and achieve better results.
With cyber threats on the rise, robust identity verification is crucial, but it needs to be balanced with a smooth user experience. Prove offers a solution that achieves both, using phone numbers for quick and accurate identity verification without added friction. This allows businesses to build trust and ensure security while offering a seamless user experience.
