Berbix, an ID confirmation start-up that was founded by former members of the Airbnb Trust and Security group, today revealed that it has actually raised a$ 9 million Series A round led by Mayfield. Existing financiers, including Initialized Capital, Y Combinator and Fika Ventures, likewise took part in this round.
Founded in 2018, Berbix helps business confirm the identity of its users, with a focus on the cannabis industry, but it’s plainly not limited to this usage case. Incorporating the service to assist online services scan and verify IDs only takes a couple of lines of code. In that respect, it’s not that different from payment services like Stripe. Rates begins at $99 each month with 100 included ID checks. Designers can select a standard ID check (for $0.99 per check after the fundamental allotment goes out), in addition to additional selfie and optional liveness checks, which ask users to show a feeling or move their head to make sure someone isn’t merely trying to deceive the system with a picture.
While ID confirmation might not be the very first thing you consider in the context of the COVID-19 pandemic, the company is in fact seeing increasing demand for its solution now that in-person ID confirmation has actually ended up being much harder. Berbix CEO and co-founder Steve Kirkham keeps in mind that the company now processes the exact same number of verifications in a day that it used to do monthly just a year back.
“The failure to conduct traditional identity checks in individual has forced companies to move online for many usage cases,” he states in today’s announcement. “One example is the Household Self-reliance Initiative, a not-for-profit that trusts and buys households’ own efforts to leave hardship. Our software application has enabled them to eliminate fraudulent applications and focus on the families who have actually been economically impacted by COVID.”
Berbix co-founder Eric Levine informs me the business prepares to use the brand-new funding to broaden its team, especially the item and sales department. He also noted that the group is investing greatly in localization, in addition to the technical structure of the service. In addition, it’s obviously also investing in new innovations to spot brand-new types of fraud. Fraudsters never sleep, after all.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.