Demonstrates the strength of Union Square Advisors’ platform in providing comprehensive advisory and financing services to next generation innovators in Security and Software
On July 22, 2021, Union Square Advisors announced it served as the exclusive financial advisor to AuthenticID, the leading provider of Identity Proofing solutions for large enterprises, in its $100 million minority investment from Long Ridge Equity Partners, a growth equity firm.
The investment will support AuthenticID’s continued expansion within telcos, financial services, government, and other consumer segments looking to establish trust and mitigate fraud, as well as enabling AuthenticID to support the next generation of digital identity platforms.
AuthenticID provides identity proofing solutions to the enterprise segment, including some of the largest corporations and financial institutions. The solution also powers many of the leading digital identity platforms globally, including ID.me and Socure. AuthenticID provides document-centric identity verification delivered via the only 100 percent automated identity proofing platform, producing the industry’s highest accuracy rates and fastest processing times. Notably, AuthenticID’s Artificial Intelligence-based offering is used to eliminate fraud and increase conversion rates for a majority of the US wireless carrier market.
The Identity Proofing market continues to grow at a rapid pace, with the recent shift to digital customer onboarding and increasing fraud levels driving the need to establish identity. The investment will support development of solutions for extended identity verification use cases. The funding allows the Company to continue innovating and address the world’s ever-evolving digital identity and verification challenges with automated solutions.
Read the full press release here.
AuthenticID is a pioneer in the Identity Proofing and Verification space. AuthenticID’s fully-automated solution protects identities and mitigates fraud without sacrificing user experience. Founded in 2001, AuthenticID has deep domain expertise in verifying government-issued identification documents with the market’s most powerful, next-generation, automated AI platform for fraud detection and identity verification. AuthenticID’s patented platform is used by the world’s leading financial services firms, wireless carriers, and identity verification platforms. The company is headquartered in Seattle, Washington. For more information please visit: www.authenticid.co.
About Long Ridge
Founded in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial and business technology sectors. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value‐added partner to high‐growth businesses. Over the last fifteen years, Long Ridge’s principals have sponsored some of the most successful growth companies in the financial and business technology sectors, providing strategic resources and capital to drive profitable expansion. Long Ridge manages over $1 billion of capital. For more information on Long Ridge Equity Partners, please visit www.long-ridge.com.
About Union Square Advisors
Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing, and debt capital markets advisory services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity, venture capital, and family offices across the technology landscape with a primary focus on Software, Software-Enabled Services, IT Infrastructure and Internet/Digital Media/Marketing Technology. Since inception, Union Square Advisors has advised on over 135 transactions, valued at $110 billion. For more information, please visit http://www.usadvisors.com.