ID R&D has landed $5.7 million in Series A funding. The latest funding round was led by new investor GSR Ventures, and also included a contribution from previous investor Gagarin Capital.
The company will use the money to accelerate marketing and expand its engineering team, which will help it meet growing demand after a year in which it doubled its clientele. ID R&D offers a suite of multimodal solutions, including voice and behavioral biometric authentication in addition to passive voice and face-based anti-spoofing tech.
“Businesses are racing to keep up with demand for authentication that works across multiple platforms and is as convenient as it is secure,” said ID R&D CEO Alexey Khitrov. “We’re committed to leading the market with new science-driven capabilities and building on the confidence and trust our customers have placed in us.”
ID R&D has enjoyed a positive cash flow since 2017, which is impressive considering it was only launched in 2016. In the past few months, the company has hired a new Chief Product Officer and opened a new office in Santa Clara to build on that early success. It has also upgraded its AI with Acoustic Event Detection capabilities.
May 31, 2019 – by Eric Weiss