Identity verification technology developer SentiLink has collected $70m in its Series B round as it looks to enhance its product suite.
Craft Ventures co-founder and general partner David Sacks served as the lead investor, with commitments also coming from Felicis Ventures, Andreessen Horowitz and NYCA.
With the capital injection, the RegTech company hopes to expand its product suite and increase the size of its team.
Co-founded by Naftali Harris and Max Blumenfeld, SentiLink develops identity verification technology to help financial institutions protect against synthetic fraud, ID theft and other emerging fraud types. SentiLink currently serves over 100 financial institutions.
Sacks said, “SentiLink’s growth trajectory is one of the fastest I’ve ever seen and their traction with companies from new startups to major US banks is impressive.
“All of this stems from the team’s deep understanding of fraud and identity. I learned about fraud attacks I didn’t even think were possible from talking with Naftali and Max. We’re excited to lead SentiLink’s Series B and to support them as they transform how identity verification works in the US.”
SentiLink aims to help its clients become more knowledgeable of new threats. It partners with clients as trusted fraud advisors and shares new fraud trends and reviews specific cases to better understand the threat landscape.
It claims it takes a different approach to identity verification than rival companies. The company builds deep understanding of fraud and identity, and then uses it technology to “productionalise” these insights.
As part of the deal, Felicis Ventures general manager Victoria Treyger and David Sacks will join SentiLink’s board of directors.
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