iProov Facial Recognition Secures Funding
A London-based cybersecurity company has secured £51.6million in funding for its online facial biometric authentication technology.
14:20 12 January 2022
London-based technology firm iProov has secured £52million funding from Sumeru Equity Partners for its online facial biometric authentication, a technology that is currently being used by governments and the private sector.
As a part of the growth investment, Kyle Ryland, managing partner of Sumeru, will be joining the iProov brand. He said: “iProov is a unique business and its combination of patented deep technology, exceptional customer references, and hugely capable team positions the company for outstanding future growth. We’re delighted to support the company in the next phase of its expansion and are very excited about the opportunities that lie ahead.”
Andrew Bud, founder, and CEO of iProov, said: “This investment by one of America’s leading growth funds recognizes the preeminent position we have established. Our potential is enormous and we now have the resources to scale in the United States and worldwide. Our strong balance sheet will give our customers and partners confidence in our long-term ability to keep them and their customers secure.”
iProov, which was founded in 2013, uses biometric technology that verifies a person's identity online to help protect against spoof attacks from photos, marks, videos, digital injection attacks and deepfakes. Among its patented technologies are Genuine Presence Assurance and Liveness Assurance, which are used for onboarding and authentication.