Identity verification startup Onfido has raised $25 million from Idinvest Partners, Wellington Partners, and CrunchFund. The cash influx will be used to “meet rising demand from the U.S. and international markets,” the company said in an announcement. Onfido had previously raised a little more than $5 million, including a $4.5 million series A round last February, meaning today’s news takes its total funding past the $30 million mark.
Founded out of London in 2012 by three former Oxford University graduates, Onfido uses machine-learning technology to help businesses carry out background checks on people — this could be potential employees at the recruitment stage or community-based marketplaces where “trust” is pivotal to transactions, such as sharing-economy companies like Airbnb, TaskRabbit, or Uber.
