Alloy raises $40 million in Series B funding
New York-based identity verification company Alloy announced a $40 million Series B round; bringing its total funding to date to $55.8 million. The investment was led by Canapi Ventures with participation from Avid Ventures and Felicis Ventures, as well as existing investors Bessemer Ventures, Primary Venture Partners, and Eniac Ventures.
The company operates in the space of ‘due diligence for new customers’ by helping banks and fintech companies automate their identity compliance and fraud decisions.
“Our mission is to help our customers deploy safe and seamless digital customer experiences. This investment will help us continue to support our growing customer base, while expanding our product offerings and scaling marketing, sales and customer efforts. As part of our continued focus on serving our customers, we’ll bring new products to market related to transaction and credit decisioning as well as document verification.”