SAN FRANCISCO –Persona, an identity verification (IDV) startup on a mission to secure every internet transaction, has connected on a Series A funding round—with $17.5 million raised from investment firms such as Coatue and First Round Capital.
As the sharing economy, on-demand service networks, and digital banking and financial services sectors have grown, so too has the volume and value of all online transactions and corresponding fraud. Persona, co-founded by former Square engineer Rick Song and former Dropbox engineer Charles Yeh, is taking a user-centric approach to identity security by acting as the Internet’s identity verification layer. Its dynamic and configurable platform seamlessly plugs into a client’s codebase and offers identity verification across every possible use case.
“With all transactions going online, Internet identity requires more than a one-size-fits-all approach, especially with deep fakes and synthetic identity fraud on the rise,” said Rick Song, CEO and co-founder of Persona. “Persona’s customizable, secure and easy to use approach is also the first identity platform that prioritizes our customers, treating people like people, not user IDs.”
“Persona integrates in days compared to months, and provides the flexibility to pivot to any use case while providing a clean and easy experience for our customers,” said Alex Constantino, fraud manager at fintech credit card company Petal, who added that the company’s key concerns are identity fraud and risk assessment. “Persona does a great job of enabling us to address know your customer requirements, while at the same time helping us to oversee the associated data management responsibilities.”
“Trust is a core UrbanSitter value. We provide a personal network-backed online marketplace where both parents and sitters value trust and transparency around user identity,” said Lynn Perkins, CEO and founder of UrbanSitter. “Persona is helping us improve site safety by enhancing our ID verification processes both from a security and a customer experience standpoint, which further reinforces our value proposition.”
Headquartered in San Francisco, Persona has 20 employees and is backed by Coatue and First Round Capital, along with angel investment from Zach Perret and William Hockey (co-founders of Plaid), Dylan Field (founded Figma), Scott Belsky (Behance) and Tony Xu (DoorDash).