- Cloud-based ID verification and authentication platform AU10TIX recently announced it raised $60 million in minority investment from TPG Tech Adjacencies
AU10TIX — a cloud-based ID verification and authentication platform — recently announced that it raised $60 million in strategic minority investment from TPG Tech Adjacencies. This funding round gave AU10TIX a post-money valuation of $260 million and comes in a period of significant momentum for the company.
“AU10TIX has established itself as a leader in global customer onboarding and forensic level identity authentication, and is distinguishing itself through advanced machine learning, talent acquisition, and global expansion through new investments and an unmatched customer base,” said AU10TIX CEO Ron Atzmon. “TPG’s backing, alongside Carey’s strong leadership, global vision, and first-mover mentality, will allow us to accelerate growth and fuel the next generation of trusted identity.”
AU10TIX is providing critical infrastructure that enables companies and customers to operate efficiently and responsibly. Over the last decade, AU10TIX has become the preferred solution for customer onboarding and KYC (“Know Your Customer”) automation. And the company’s proprietary technology provides results in less than 8 seconds, allowing companies to onboard faster, prevent fraud, meet compliance mandates, and establish trust with their customers.
Plus AU10TIX announced that Carey OConnor Kolaja has been named President and Chief Operating Officer of the company. Kolaja has over 25 years of experience working at Fortune 500 companies and emerging startups. Kolaja most recently worked as the Chief Product Officer at Citi FinTech. Before that, Kolaja served as the VP of Global Consumer Products at PayPal.
“AU10TIX has a vision for helping create truly secure and seamless transactions for our partners and their customers,” explained Carey Kolaja, President and Chief Operating Officer, AU10TIX. “Trust is critical as we become more globally connected and AU10TIX is off to a strong start enabling others to build trust within this new economy. I look forward to having a hand in shaping the future by helping our customers realize trusted growth.”
AU10TIX has been experiencing triple-digit growth — which is fueled by growth in its existing customer base as well as new customer acquisitions. And the company’s customer base also includes global financial services companies and new economy standouts.
“While we all benefit tremendously from the ability to do more via apps and online services, the need for identity and trust remains paramount,” added Arun Agarwal of TPG. “Today’s digital environment demands an innovative and reliable solution like AU10TIX. The quality, breadth, and speed of its platform are unmatched in the market, and we’re thrilled to partner with Ron, Carey, and the team to support the company in achieving its next level of growth.”
