# IDVerse

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/idverse

- Industry: Software
- Headquarters: Sydney, Australia
- Website: www.ocrlabs.com
- Total disclosed funding: $30M
- Latest round: Series B (Dec 1, 2021)
- Investors on record: 2

## About

IDVerse, based in Sydney, Australia, specializes in AI-driven identity verification solutions that enhance security and improve user experiences across various sectors.IDVerse, founded in 2014 in Sydney, Australia, develops advanced identity verification technologies. The company has completed a total of 4 deals and recently raised USD 30.00 mn in its Series B funding round led by Equable Capital, bringing the total amount raised to USD 30.00 mn. Matthew Adams is the founder, and John Myers currently serves as the CEO.IDVerse offers a comprehensive suite of AI-powered identity verification solutions designed to enhance security and streamline user experiences across various industries. Their core product, IDverse Identity Verification, provides fully automated identity checks with a remarkable accuracy rate of 99.99%, enabling businesses to onboard customers efficiently in seconds. The platform utilizes advanced technologies like IDverse Bias AI™, trained on diverse human faces for inclusivity in verification processes, and Deepfake Defender™, which detects synthetic identities that could evade human scrutiny. This suite serves a broad range of clients, including financial services, gambling, public sectors, and telecommunications, catering to global markets such as North America, Europe, and Asia. IDVerse covers over 16,000 identity documents in more than 140 languages and typesets, aiding organizations in meeting compliance standards while fostering trust and security in customer interactions.IDVerse generates revenue primarily through subscriptions and partnerships with businesses seeking robust identity verification solutions. Their flagship products, including IDverse Identity Verification and Deepfake Defender™, are offered under structured pricing plans tailored to the specific needs of varied client bases, from B2B enterprises to direct consumer applications. Clients engage with IDVerse through contractual agreements outlining the services to be utilized, often incorporating ongoing support and updates as part of their subscription package. Transactions are executed through seamless integration into clients’ existing systems, ensuring effective and secure customer onboarding, fraud prevention, and compliance measures. This comprehensive service delivery positions IDVerse as a critical player in the identity verification landscape, enabling clients to secure their operations against evolving threats.IDVerse plans to launch new products aimed at enhancing its identity verification capabilities, although specific release dates have not been disclosed. The company is focused on expanding into new markets, particularly targeting regions in Asia and Europe by the end of 2024. The recent Series B funding of USD 30.00 mn will be utilized to support product development and market expansion initiatives, allowing IDVerse to strengthen its position in the identity verification sector.

## Funding rounds

- Series B, Dec 1, 2021, $30M — Equable Capital
- Seed, date not disclosed — Halkin Ventures

## Investors

- Halkin Ventures (https://capitalatlas.ai/funds/halkin-ventures) — Seed
- Equable Capital (https://capitalatlas.ai/funds/equable-capital) — Series B