iProov, the online biometric face authentication business, has announced a $70 million growth investment.

It said it would use the capital, put forward by investor Sumeru, to build on its existing business in the US and to expand its international customer base.

Launched in 2013, the company’s technologies are already used by the UK Home Office, the NHS, the US Department of Homeland Security, the Australian Taxation Office, GovTech Singapore, Rabobank, ING, as well as others.

“This investment by one of America’s leading growth funds recognizes the preeminent position we have established,” said Andrew Bud, founder and chief executive of iProov. “Our potential is enormous and we now have the resources to scale in the United States and worldwide. Our strong balance sheet will give our customers and partners confidence in our long-term ability to keep them and their customers secure.”

According to the Silicon Valley-headquartered company, iProov tripled its revenues in a year, processing more online verifications during one 10 day period in 2021 than in the whole of 2020.

More than one million verifications were completed in a single day several times last year.

Share Story: