Data Science Investment Counter —Funding raised by UK data science companies in 2017 as of today
£ 280.765 Million

AI Superstar Onfido Raises £22 Million Series C

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From right to left, Onfido cofounders Ruhul Amin, CEO Husayn Kassai, and Eamon Jubbawy (via Onfido)

London-based Artificial Intelligence company Onfido has secured £22 million ($30 million) in a Series C round led by Crane Venture Partners and backed by Microsoft Ventures, and Salesforce Ventures.

Founded in 2012 by Eamon Jubbawy, Husayn Kassai, Ruhul Amin, Onfido uses proprietary machine learning technology for identity verification and background checks.

The 150-employee company, which has offices in London, San Francisco, New York and New Delhi, is going to use the fresh cash to expand its international presence and further develop its technology. The company has so far raised about £45 million ($60.3m) in seven investment rounds.

Company CEO and cofounder Husayn Kassai commented on the new round in a statement: “Millions of people who don’t have a credit history – or just have a thin one – are unable to access everyday services. With our identity verification technology, those underserved people can access online services they need, and businesses can gain access to a whole new group of trusted customers,” he said.

“As identity verification technology continues to evolve, it will become the key to remotely unlocking a huge range of products globally, from banking and travel services through to voting and healthcare.”

Crane partner Scott Sage also commented on the investment: “We invest in companies that have an ‘unfair advantage’ in data. Onfido has proven itself with incredible traction in Europe and strong demand in the US for its identity verification technology today,” Sage explained.

“Onfido has one of the strongest machine learning teams we’ve come across from all over Europe, and we’re excited to see how they continue to combine data, image verification and fraud prevention technologies to enable businesses to scale efficiently and safely.”

 

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