Identity verification startup SentiLink has secured $70 million in a funding round led by Craft Ventures, bringing its valuation to $85 million.
The Series B funding round also saw participation from Felicis Ventures, Andreessen Horowitz, and NYCA. Per reports, Victoria Treyger and David Sacks from Felicis will serve as observers on SentiLink's board.
SentiLink will use the funds to combat identity fraud in the US by expanding its product line and workforce.
“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,” said David Sacks, co-founder and general partner at Craft Ventures.
“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 integrates disparate data sources to identify synthetic identities with unparalleled accuracy. Its ID Complete module matches the Social Security number (SSN) data across US identities to fill in incomplete or missing data. Synthetic Fraud and ID Theft Scores indicate the likelihood of application fraud.
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What’s more, SentiLink’s Risk Operations team continuously monitors synthetic identities to develop consistent and accurate fraud labels.
“SentiLink is reinventing identity verification in the US. Despite businesses spending large amounts of time and money trying to figure out if people are who they say they are, identity fraud is rampant and real customers suffer from false positives and unnecessary friction,” said Naftali Harris, co-founder and CEO of SentiLink.
Commenting on prerequisites, SentiLink said its real-time fraud detection solutions only require name, address, DOB, SSN, email, and phone number for assessing identity fraud.
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