Evident ID Lands $20 Million in Series B Funding

The identity verification provider Evident ID has landed $20 million in Series B funding. The financing round was led by Aspect Ventures, with contributions from new investors like Blue Cloud Ventures and prior investors like New Enterprise Associates.

Evident ID is a comprehensive, enterprise-level identity verification solution that provides both step-up and continuous authentication capabilities for a variety of purposes, from customer registration to employee verification. The company plans to use the funds to improve its AI, computer vision, and facial recognition tech, and will also hire more employees to meet growing demand after enjoying 300 percent year-over-year customer growth.

“Identity verification has never been more important, especially as businesses consider the conflict of mitigating fraud while prioritizing growth and streamlined user experiences,” said NEA Partner Vanessa Larco. “Evident is solving these crucial challenges while maintaining the highest standards of privacy and security.” 

“With this new capital, we can scale to meet the increasing demands of current customers and marketplaces, as well as continue to grow in additional markets and industries including insurance, healthcare and financial services,” added Evident CEO David Thomas.

Evident is not the only computer vision company attracting serious investors. AlwaysAI took in $4 million in series-A funding, while Airy3D grabbed $10 million back in July. Those deals (and some others) point to growing interest in the computer vision space, and Evident would seem to be well-positioned to capitalize on that interest moving forward.