SentiLink announced that they have raised $70 million in Series B funding, led by David Sacks of Craft. The funds are already being used to develop new products, beginning with the launch of “KYC Insights” product at the end of September, as well as to research new fraud issues such as credit washing, J1/F1 fraud, and the laundering of stolen public benefits funds. And as new issues arise with their partners, they will address them as well.
Identity verification is especially bad in the United States. The SSN is the United States’ national identifier, which is supposed to be unique and secret but is neither. Citizens’ identification cards are rarely used and are easy to fabricate. Organizations spend a lot of time and money on this problem, but fraud persists, and honest people are subjected to unnecessary friction and false positives.
SentiLink believes that determining whether someone is who they claim to be can and should be simple and effective. Organizations should be able to detect and prevent fraud in such a way that consumers are unaware. It should be simple, inexpensive, and functional.
SentiLink announced that they’ve raised $70M in Series B to make this vision a reality, led by David Sacks at Craft. The company is already using these funds to develop new products, starting with the launch of our “KYC Insights” product at the end of September, and to research new fraud issues, like credit washing, J1/F1 fraud, and the laundering of stolen public benefits funds. And as they discover new issues with our partners, they will tackle those as well.