Onfido, the global identity verification provider, recently announced it has raised $50 million in funding, bringing the total investment in the company to over $100M. The round was led by SBI Investment and Salesforce Ventures, with support from M12 (formerly Microsoft Ventures), FinVC and others, including existing investors. Frank van Veenendaal, former Chief Sales Officer and Vice Chairman of Salesforce, joins Onfido’s board. Other investors that took part in this round include: Acequia Capital, Tuesday Capital, Crane Venture Partners, Idinvest Partners, Augmentum Fintech plc, Wellington Partners, Plug & Play Venture Group, B&Y Venture Partners, CreditEase Ventures, TempoCap, and Talis Capital.
The investment will accelerate Onfido’s goal of using AI to standardise the way businesses verify identities in a scalable and secure way. It will help Onfido consolidate its core market in the USA, accelerate its expansion into high-growth regions including Europe and South-East Asia, as well as advancing product development.