Mesh – a modern provider of real-time professional license verification trusted by leading marketplaces – announced the launch of its Multi-Factor Business Identity solution for marketplaces, e-commerce, and vendor and contractor compliance.
Co-founded by former Amazon executives Diego Asenjo (CEO) and Tony Bryan (CTO) and following a $5.7 million seed round led by Greycroft, Mesh now helps companies seamlessly verify, onboard, and monitor any legitimate U.S. business – along with their registration, licensing, insurance, and background information – with industry-leading 99%+ satisfaction reported by verified SMBs and sole-proprietors.
Most companies with business onboarding, trust and safety, and vendor compliance needs depend on manual reviews. Advisory firm Liminal determined that 98% of surveyed companies require some manual review, with nearly 60% relying on manual reviews for at least a quarter of their business verifications. They found that financial institutions echo Mesh’s insights on buyer and seller onboarding in e-commerce, marketplace trust, and vendor compliance.
To address this issue, mid-size and large companies often deploy teams across product, engineering, data science, and operations, and a stack of vendors to get the necessary business signals and increase coverage. But these companies still require tens to hundreds of manual operators to review small and micro businesses that are partially or fully invisible to their vendors and annually see millions of dollars lost to customer friction, regulatory non-compliance, and fraud.
Mesh’s Business and Entity Verification (BEV) solution combines privacy-centric data collection, hundreds of proprietary integrations with primary sources and real-time government data, an ecosystem of data partners, and identity lifecycle workflows to offer unmatched accuracy, data freshness, and non-compliance detection while delivering high automation, conversion, and SMB satisfaction.
Introducing Multi-Factor Business Identity Verification Mesh introduced a new evolution in its verification platform, offering:
1.) Multiple Signals – Mesh delivers signals through a single API, including business user identity, licenses, insurance, tax information, business risk, end-user risk, and documentary evidence.
2.) Dynamic Data Capture – Mesh adapts its data capture experience to customers’ order parameters, end-user inputs, and real-time risk signals, ensuring a radically simple and tailored user-friendly experience.
3.) Real-Time Data – Mesh triangulates real-time verifications with hundreds of governments, third-party data, and partner networks, and delivers unmatched data freshness with risk labels for customers to automate decisions.
4.) Enterprise Platform – Mesh makes its data collection frictionless and transparent, tailored to customers’ needs with multiple fast-start options. Mesh is already trusted by multi-billion dollar marketplaces.
5.) Privacy by Design – Mesh secures data collected from SMBs with bank-level encryption and only shares it with their consent. Mesh is proudly SOC2 Type II Certified.
KEY QUOTES:
“Mesh has effectively addressed the challenges of establishing business trust and navigating compliance with their innovative Business and Entity Verification solution. We are thrilled with Mesh’s expertise and vision in bringing an accurate and seamless solution for companies.”
– Elaine Russell, Operating Partner at Greycroft
“Mesh’s extensive integrations into disparate data sources give them the ability to automate the vast majority of business identity verification, relieving customers of painstaking manual review processes and bringing a frictionless user experience that consumers have grown accustomed to in the B2B world.”
– Ruth Foxe Blader, General Partner at Foxe Capital
“The status quo is frustrating. Business verification processes can take a day or more in 30%+ of cases, and often, small businesses are simply invisible to single-point solution providers. Companies must also integrate and triangulate with multiple disparate single-point solution providers for business, license, insurance, and other data – which is time-consuming to implement, customize, and maintain across platforms. And despite their efforts, companies suffer losses stemming from incomplete coverage and stale data. Companies love Mesh’s comprehensive identity platform because of our uncompromising commitment to delightful data capture experiences, accuracy, and in-depth coverage with real-time data with a single multi-factor API that is a no-brainer. Legitimate small businesses and sole proprietors love that getting verified with Mesh’s custom-branded building blocks feels safe, quick, and easy.”
– Diego Asenjo, CEO of Mesh
“The response to verifications by Mesh from our community has been very positive, and we’re pleased with the increased engagement we’ve seen from verification. Homeowners see the verification badge, which increases their trust and the likelihood of a connection. Our Verified Pros see higher quality leads and get more business. We’ve created a healthier ecosystem for our customers. Everyone wins here.”
– John Mannelly, Senior Product Manager from Houzz
