Identity Verification Company Vouched Raises $3 Million

By Dan Anderson ● December 14, 2020
  • Vouched — a rapidly-growing developer of proprietary AI and computer vision for end-to-end identity verification and real-time fraud detection — announced a $3 million funding round. These are the details.

Vouched — a rapidly-growing developer of proprietary AI and computer vision for end-to-end identity verification and real-time fraud detection — announced a $3 million funding round. This round of funding — which was led by Flying Fish Partners — will further accelerate growth of Vouched’s identity proofing platform across the banking, fintech and healthcare verticals. Bankers Healthcare Group (BHG), a leading provider of financial solutions for licensed healthcare practitioners and other highly skilled professionals also participated in the BHG is going to aggressively bring Vouched into banking to offer new services to the nearly 1,200 members of the BHG Bank Network as well as its partners in the hospital, ambulatory surgery center, and healthcare provider verticals.

Vouched already serves leading hospital and healthcare organizations, banks, and fintechs as well as e-commerce and gig and sharing businesses. And the ability of Vouched technology to verify identities in real-world circumstances — even when images may not be ideal — is helping clients across those sectors. Vouched also quickly learns new IDs and adapts to a variety of business use cases, contributing to the rapid growth of Vouched’s customer base.

And the latest funding round will allow Vouched to move into the European market. Europe’s expanding regulations and compliance requirements like Payment Services Directive (PSD2) and new Anti-Money Laundering (AML) rules for the purchase of goods such as artwork are creating increased demand for Vouched services across verticals throughout Europe.

KEY QUOTES:

“Flying Fish invests in applications of artificial intelligence that enable the fundamentals of the digital future. Vouched is creating a seamless, worldwide identity verification platform to provide access to life’s services, from the most critical like banking, healthcare, and benefits, to the conveniences of every day.”

— Flying Fish Partners Venture Partner Vanessa Pegueros

“Vouched was founded to provide rapid, secure and seamless identity proofing for the next generation of digital activities. The ability to see a person and verify their identity online is required for complex regulated activities such as Know Your Customer (KYC) in banking and the rise of Know Your Patient (KYP) in healthcare and telemedicine. Increasingly, security-sensitive transactions such as peer-to-peer sharing of expensive goods like motorcycles, cars and RVs also depend on identity verification. We are helping to meet those growing needs.”

— Vouched Co-founder and CEO John Baird

“In today’s environment, a digital identity verification process is critical to maintain the safety of our borrowers without compromising our promise to deliver a funding experience built on service, speed, and efficiency. There’s great synergy between BHG and Vouched. We’re excited to invest in a best-in-class technology service that we can bring to our nationwide network of community banks and healthcare partners looking to improve efficiency while reducing risk.”

— Tyler Crawford, COO of Bankers Healthcare Group