# Middesk

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

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.middesk.com
- Total disclosed funding: $80M
- Latest round: Series B (Jun 9, 2022)
- Investors on record: 6

## About

Middesk, Inc., based in the US, specializes in providing software solutions that streamline business identity verification, facilitating compliance and risk management for clients in the financial sector.Founded in 2018 in San Francisco, US, Middesk, Inc. offers a platform that simplifies business identity verification. The company has successfully raised USD 60 mn in Series B funding on June 9, 2022, with notable investors including Accel, Canapi Ventures, and Insight Partners. The firm is led by CEO Kyle Mack, who is one of the co-founders, contributing to the strategic direction and growth of the company.Middesk offers a comprehensive business identity platform designed for onboarding, verification, and monitoring of business customers. Core products include Business Verification, Credit Assessment, and Entity Management, all integrated to enhance processes like Know Your Business (KYB) and Customer Identification Program (CIP). The platform connects directly with government agencies to ensure the legitimacy of registered U.S. businesses, utilizing AI models to provide insights for informed decision-making, primarily serving banks, fintechs, lenders, and marketplaces across the United States.Middesk operates a subscription-based revenue model, serving over 500 companies across various industries. Clients utilize the platform to automate compliance processes, reducing the risk of onboarding fraudulent entities. The pricing structure is flexible, catering to diverse business needs and enhancing the onboarding experience, particularly for banks and lenders who rely on Middesk’s services for efficient transaction flows.Following the Series B funding round completed in June 2022, Middesk plans to invest in the development of new and existing products while scaling its team. The funding will also support market education efforts regarding business identity, aiming to enhance user understanding and adoption of their platform. Specific plans for geographic expansion have not been disclosed, but the company is focused on strengthening its presence within existing markets.

## Funding rounds

- Series B, Jun 9, 2022, $60M — Accel, Hong Shan, Insight Partners, Gaingels, Canapi Ventures
- Series A, Mar 24, 2021, $16M — Accel, Hong Shan, Y Combinator
- Seed, Sep 12, 2019, $4M — Accel, Hong Shan, Y Combinator

## Investors

- Accel (https://capitalatlas.ai/funds/accel) — Seed, Series A, Series B
- Hong Shan — Seed, Series A, Series B
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series B
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series B
- Canapi Ventures (https://capitalatlas.ai/funds/canapi-ventures) — Series B