# Beam Solutions

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/beam-solutions

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.beamsolutions.com
- Total disclosed funding: $5M
- Latest round: Seed (Nov 1, 2018)
- Investors on record: 3

## About

Beam Solutions, Inc. specializes in providing innovative technology solutions that enhance operational efficiencies for businesses across various sectors. The firm focuses on advanced identity verification and compliance services.Founded in 2016 and headquartered in San Francisco, US, Beam Solutions, Inc. offers technology solutions that improve operational efficiency and compliance. The company was acquired by Jumio Corporation in September 2020, which integrated its AML platform into Jumio's offerings. The acquisition terms were not disclosed. Beam has engaged in 5 deals since its inception, with its latest funding round being a Venture Debt of USD 2.00 mn led by Silicon Valley Bank, bringing the total amount raised to USD 5.00 mn.Beam Solutions, Inc. provides advanced identity verification solutions, focusing on compliance and operational efficiency for various industries. Their key offerings include AI-driven identity checks and compliance services that assist businesses in mitigating fraud risks and adhering to regulatory standards. Their technology supports clients in accessing reliable identity verification services globally, particularly in North America, Europe, and Asia-Pacific.Beam Solutions, Inc. generates revenue through contracts that provide access to its identity verification technology. The revenue model is based on service agreements, where clients are charged according to the volume of identity checks performed. This pricing structure is tailored to meet the specific needs of industries such as financial services and gaming, where high volumes of user authentication are essential.Following its acquisition in September 2020, Beam Solutions, Inc. plans to leverage Jumio's resources to expand its product line and enhance its technology capabilities. The company aims to introduce new verification products and penetrate additional markets by the end of 2023. The recent funding will be utilized to support these initiatives, focusing on product development and market expansion in the financial services and gaming sectors.

## Funding rounds

- Seed, Nov 1, 2018, $5M — Greycroft, Broadhaven Capital Partners, Plug and Play

## Investors

- Greycroft (https://capitalatlas.ai/funds/greycroft) — Seed
- Broadhaven Capital Partners (https://capitalatlas.ai/funds/broadhaven-capital-partners) — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed