Andreessen Horowitz is a venture capital firm specializing in investing in seed, start-ups, early, mid-stage, growth, and late-stage. It prefers to invest in the social media business and technology sector with a focus on software, back-end infrastructure, the infrastructure of the Internet, cloud computing, enterprise software and services, consumer, business Internet, mobile-Internet, consumer Internet, cloud computing, data storage, social network browsers data-storage, consumer electronics, networking functions, software related biology, biotech, and medicine companies at the intersection of computer science and life sciences with a focus on digital therapeutics, cloud technology in biology, and computational medicine.

Andreessen Horowitz

Citi Ventures utilizes Citi's resources to support individuals, businesses, and communities amid technological changes. Based in San Francisco with offices in New York, London, Palo Alto, Tel Aviv, and Singapore, Citi Ventures focuses on discovering new value by exploring, developing, and investing in innovative ideas, and collaborating with Citi employees, clients, and the broader innovation community.

Citi Ventures

Great Hill Partners is a private equity firm with $2.7 billion under management. Great Hill Partners seeks to partner with middle-market companies operating in high growth sectors in the media/communications, Internet, business services, consumer services, financial technology, healthcare technology, software, and transaction processing sectors.

Great Hill Partners

Jumio

JJumio is an AI platform that enables users to establish their identity remotely to protect against fraud and other financial crime. The Jumio KYX Platform offers a range of identity proofing services to accurately establish, maintain and reassert trust from account opening to ongoing transaction monitoring. It leverages advanced technology including AI, biometrics, machine learning, liveness detection, and automation, Jumio helps organizations fight fraud, onboard good customers faster, and meet regulatory compliance including KYC, AML, and GDPR. Jumio has verified more than 300 million identities issued by over 200 countries and territories from real-time web and mobile transactions. The identity verification company's solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel, and online gaming sectors. In 2016, Daniel Mattes and Robert Prigge headquartered Jumio in Palo Alto, California.

<div>Jumio offers an AI-based identity verification and electronic know your customer (eKYC) platform. Jumio helps companies to combat fraud and financial crime, onboard trustworthy customers, and ensure compliance with regulations such as and general data protection regulation (GDPR). Its products include ID verification, identity verification, document verification, and video verification.</div>

Facial recognition delivers incredible convenience to consumers, as well as serious risks.

Facial Recognition

<div>Jumio is a leading provider of automated identity verification, risk assessment, and compliance solutions. The company's core offering is Jumio Identity Verification, which leverages biometrics, AI, and machine learning to automate the identity verification process. This helps organizations combat online identity fraud, simplify KYC/AML compliance, and deliver a simplified onboarding experience.</div>

Ensuring the right people access the right resources at the right time

Identity & Access Management

Regtech Jumio and LatticeFlow AI to Enhance ID Verification for Compliance, Fraud Prevention

Microsoft

To launch the  Azure Active Directory (Active AD) verifiable credentials.

<div>
 
 Jumio offers an AI-based identity verification and electronic know your customer (eKYC) platform. Jumio helps companies to combat fraud and financial crime, onboard trustworthy customers, and ensure compliance with regulations such as and general data protection regulation (GDPR). Its products include ID verification, identity verification, document verification, and video verification.
 
 
 Jumio uses a proprietary mix of AI, ML, and biometrics like facial recognition to perform verification and authentication tests. For example, it checks whether an ID produced online is authentic and valid, checks whether the person holding the ID is the same person shown in the ID, and checks for liveness to identify whether the person holding the ID was physically present during the transaction. Users are required to take a selfie from any device and create a biometric template. This template is then used by Jumio&rsquo;s platform to provide scores on validity/liveness and similarity with produced IDs and documents.&nbsp;
 
 
 In December 2021, Jumio acquired 4Stop, a company offering compliance and fraud prevention technologies, to integrate its data marketplace and orchestration capabilities.
 
 
 Key customers and partnerships
 
 
 Jumio&rsquo;s customers include Bank ABC, Paysafe, WeWork, Airbnb, easyJet, Novibet, EverUp, GetGo, Modyo, and Monzo. Jumio has entered into distributor partnerships with Cuberlinx and Netpoleon. Its technology partners included Microsoft, iProov, Fountain, Mambu, and Nucoro as of May 2023.
 
 
 <a href="https://sp-edge.com/updates/22559">
 In October 2023
 </a>
 , Jumio expanded its partnership with NextWealth, a data services provider, to obtain identity verification services, improving service quality for customers.&nbsp;&nbsp;
 
 
 Funding and financials
 
 
 Jumio raised USD 150 million in funding from Great Hill Partners. The company intended to use the funds to introduce more tools on its platform and to expand the customer base. In 2022, the company recorded more than USD 200 million in bookings driven by the advancements in online businesses. 
 
</div>

<div>
 
 Founded in Spain, FacePhi offers a wide range of facial recognition identity authentication solutions for transaction approval and digital onboarding. FacePhi&rsquo;s Selphi software allows the user to conduct ID authentication by using a selfie. The selfie is encrypted and sent to the bank&rsquo;s database to be used in payee authentication. The encryptions ensure the user's privacy as the full image is not sent to the bank. The company&rsquo;s revenue increased by around 143% during the first half of 2020 (compared to the same period in 2019) on account of agreements with 10 new clients, compared to 13 new customers during 2019 (full year), indicating the growth potential of the company.
 
 
 In May 2021, FacePhi partnered with Revelock, a Spanish fraud detection company, to provide comprehensive identity verification and fraud prevention solutions for financial institutions. In February 2022, the company partnered with software company Oracle Cloud Marketplace, for the latter to work as a distributor for FacePhi's digital onboarding and facial recognition solutions. In November 2021, the company also partnered with airport operator Aena to offer identity verification for passengers and employees at a price of USD 1.7 million for four years. With the aim of expanding presence in the LATAM region, FacePhi established a regional office in Uruguay in March 2022, followed by an agreement with 
 <a href="https://sp-edge.com/updates?industryIds=16">
 Hites,
 </a>
 a Chilean department store, to use remote selfie onboarding technology to let Hites&rsquo; customers apply for credit cards online. In May 2022, FacePhi opened another
 <a href="https://sp-edge.com/updates/10796?industryIds=16">
 office in the UK
 </a>
 to serve Europe, the Middle East, and Africa (EMEA) regions.
 
 
 Funding and financials
 
 
 During the fiscal year 2022, FacePhi recorded net revenues of EUR 2.2 million ( ~USD 2.3 million), growing 69% YoY, and an adjusted EBITDA of EUR 4.3 million ( ~USD 4.6 million), unchanged from the previous year.
 
 
 
</div>

FacePhi

Headquartered in the Netherlands, Sightcorp is an AI spin-off from the University of Amsterdam that develops patented proprietary AI Software solutions for mobile apps, including face detection (detect multiple faces in an image), emotion analysis, crowd demographics, and attention analytics. The main target markets of the company include retail, advertising, hospitality, and digital signage.In January 2022, Sightcorp was <a href="https://sp-edge.com/updates/7828?industryIds=16">acquired by Raydiant </a>, a provider of an in-location experience management platform, to jointly develop solutions for personalized on-screen, in-location experiences targeting retailers, restaurants, etc. Sightcorp expects to open offices in Lithuania and London in 2022 and to grow its European team from 20 to 100. Raydiant is also hiring across the US and internationally to accompany Sightcorp’s new offices.

Sightcorp

<div>
 
 Okaya offers a mobile app that aims to understand users&rsquo; wellbeing by using a combination of facial recognition technology, biometrics analysis (such as heart rate, weight, etc.), and machine learning. Okaya&rsquo;s facial recognition algorithm, developed in-house, analyses facial features obtained from a 15-second video recording where up to 30 frames are captured in a second. This data is evaluated along with other biometrics to determine a person&rsquo;s level of fatigue. The product claims to help create strong work teams and a robust work environment allowing the identification of areas where improvement is required.
 
</div>

Okaya

<div>
 
 Facetec offers a 3D face authentication software called ZoOm capable of high-performance liveness detection (verification of whether facial features captured are from a living subject). The software can work on smart mobile devices and webcams. The company also has patented technology to generate a 3D face map using a video selfie recorded even with a 2D camera. In September 2019, Facetec improved its product by embedding an age-estimation tool. Even though selfie-based authentication has become commonplace, many of them uses 2D facial mapping which makes it are vulnerable to spoofing attacks (trying to obtain access illegitimately by reproducing a person's face using images, masks, mannequins etc.) due to use of 2D mapping of facial features. FaceTec's technology is superior to others as it allows to create a 3D map of the face even with a normal 2D camera. While most other 3D face mapping requires designated hardware components, FaceTec's technology eliminates this requirement. Hence, it does not require app developers to rely on device manufacturers to incorporate additional hardware to use ZoOm. The company claims its product is one of the few companies to be certified in level 1 and 2 in iBeta Presentation Attack Detection (PAD) testing directed by an ISO standard. The software can detect digital and physical 'spoof artifacts' such as high-resolution photos and videos, masks and mannequins. FaceTec has over 100 customers across various verticals with an installed base of over 10 billion smart devices. ZoOm targets a wide range of markets ranging from banking, e-commerce, healthcare, insurance, e-voting, attendance, and government. Majority of FaceTec's customers are currently government and financial institutions.
 
</div>

FaceTec, Inc.

<div>
 
 FaceFirst offers facial recognition solutions mainly for access control as well as for identity authentication and real-time security. It focuses on retailers, airports, casinos, banks, as well as music and gaming events. The company also offers a mobile app (for iOS and Android) for facial recognition on the go. FaceFirst&rsquo;s facial recognition tool is mainly aimed at the retail segment, which accounts for around 50% of its business. FaceFirst&rsquo;s patented retail security platform can identify any known shoplifters or forbidden employees attempting to enter the store. Its products can be integrated with existing retail systems. 
 
 
 The company also introduced Mask-ID in November 2018, which instantly blurs identified faces without compromising accuracy. Additionally, the retail security platform allows its users to access the company&rsquo;s database of retail criminals, enabling them to include any individuals banned by the company itself. FaceFirst is one of the companies to work with lawmakers to help regulate the industry.
 
</div>

FaceFirst

Companies that are developing facial recognition technology to suggest tags for photos uploaded on the platform, typically social media.

Companies that provide facial recognition technology for contactless and fast-payment gateways.

Companies providing tools to identify VIP customers and repeat customers by using facial recognition.

Companies that provide technology to monitor physical access to offices, retail stores, and residences as well as access to electronic devices, such as mobile phones and laptops, using facial recognition.

Companies providing facial recognition technology to identify people from live and recorded videos.

Companies that provide facial recognition technology to police and government agencies to identify criminals, protestors, unauthorized overstayers in the country, and departing passengers.

Facial recognition is a type of biometrics used to verify individuals

Used in smart city applications for access control

Facial recognition technology is built on ML models for training data

<div>
 
 Jumio is a leading provider of automated identity verification, risk assessment, and compliance solutions. The company's core offering is Jumio Identity Verification, which leverages biometrics, AI, and machine learning to automate the identity verification process. This helps organizations combat online identity fraud, simplify KYC/AML compliance, and deliver a simplified onboarding experience.
 
 
 Jumio Identity Verification checks the validity of identity documents and ensures that the person holding the document matches the photo through liveness detection and provides a definitive answer within seconds. The system supports ID-wise document authentication by checking against known templates and uses advanced face-based biometric technology for spoof-proofing.
 
 
 In October 2023, Jumio unveiled Jumio 360&deg; Fraud Analytics, a fraud prevention technology that uses AI-driven predictive analytics to identify fraud patterns across Jumio's cross-industry network. By analyzing billions of data points and employing graph database technology with machine learning, it groups identity transactions into clusters to determine their fraud risk.&nbsp;
 
 
 Key customers and partnerships
 
 
 As of March 2024, Jumio had processed over 1 billion identity verification transactions spanning over 200 countries and territories from real-time web and mobile transactions. The company counts companies like WeWork, HSBC, Uber, and Monzo Bank among its key customers.
 
 
 In August 2023, Jumio formed a notable partnership with Monzo Bank, a challenger bank based in the UK. As Monzo pursued growth and expansion into new markets, the collaboration with Jumio aimed to improve the experience for its banking customers while reducing financial crimes.
 
 
 Funding and financials
 
 
 In March 2021, the company secured a USD 150 million investment from Great Hill Partners for product development. 
 
 
 
</div>

FortifID is a software company that puts individuals back in control of their identity and directly connects individuals to institutions. The company building a network to power secure, trusted &amp; robust consumer data for the digital world, also enabling individuals to seize control over the use of their personal data. They solve the needs ofbusinesses that use, buy or sell personal data, as well as the privacy needs of consumers for business using personal data, for business selling personal data, and for individuals. Their vision is a data solution for the digital age using blockchain and next-gen concepts from MIT. FortifID was founded in 2017 and is based in Mountain View, California, USA.

FortifID

<div>
 
 Keycloak is an open-source identity and access management (IAM) solution developed by Red Hat. It provides robust user authentication, authorization, and single sign-on (SSO) capabilities, allowing users to securely access multiple applications and services with a single set of credentials. Keycloak supports industry-standard protocols such as OpenID Connect, OAuth 2.0, and SAML 2.0, ensuring interoperability and seamless integration with various applications and frameworks.
 
 
 One of Keycloak's key features is its ability to act as an identity provider (IdP), handling user authentication and attribute assertions. It can also function as a service provider (SP), relying on external IdPs for authentication and authorization. Keycloak offers a user-friendly administration console, where administrators can manage users, roles, and permissions, as well as configure authentication methods, federation settings, and authorization policies.
 
 
 Keycloak supports user federation, allowing it to integrate with existing user stores such as LDAP and Active Directory. It also enables identity brokering, empowering users to authenticate using their existing social media accounts or external identity providers. Additionally, Keycloak provides customizable login pages, password recovery mechanisms, and support for multi-factor authentication, enhancing security and user experience.
 
 
 As an open-source project, Keycloak benefits from community contributions, ensuring its continuous improvement and adaptation to evolving business needs. Organizations can leverage the extensive documentation, forums, and resources provided by the Keycloak community for support and guidance during implementation and customization.
 
 
 
</div>

Keycloak

<div>
 
 miniOrange provides Identity and Access Management (IAM) solutions offering a range of products, including Single Sign-On (SSO), Multi-Factor Authentication (MFA), and Cloud Access Security Broker (CASB). Its solutions secure access to various applications and cloud services while enabling seamless user experiences.&nbsp;
 
 
 miniOrange's technology allows organizations to implement access control policies based on factors like IP addresses, locations, devices, and time restrictions, providing granular control over data access. Additionally, its solutions integrate with platforms such as Microsoft 365, ServiceNow, Oracle EBS, and Zoom, enabling businesses to enhance security across their digital ecosystems. With a strong focus on compliance and data protection, miniOrange's IAM offerings help enterprises mitigate risks associated with unauthorized access, data breaches, and cyber threats.
 
 
 Key customers and partnerships
 
 
 miniOrange's client base spans various industries, including government entities, healthcare organizations, and enterprises across the US.&nbsp;
 
 
 miniOrange partners with companies like Oracle, Microsoft, ServiceNow, and Zoom, integrating their IAM solutions to secure access to these platforms seamlessly. Its extensive app integration library, comprising over 5,000 applications, allows organizations to optimize resources and costs while streamlining authentication and access management processes.
 
 
 
</div>

miniOrange

One Identity solutions for Identity and Access Management Identity and access management for the real world. One Identity solutions eliminate the complexities and time-consuming processes often required to govern identities, manage privileged accounts and control access. Their solutions enhance business agility while addressing your IAMchallenges with on-premises, cloud and hybrid environments.

One Identity

<div>
 
 SailPoint provides identity security solutions for enterprises. Its identity governance and administration (IGA) platform, IdentityIQ, allows organizations to manage and secure access to applications, data, and cloud resources across their entire IT infrastructure. IdentityIQ automates user provisioning, access requests, access certifications, and policy enforcement, ensuring that users have the appropriate level of access based on their roles and responsibilities.
 
 
 IdentityIQ integrates with various enterprise systems, including cloud, mobile, and on-premises applications, through connectors and APIs. This integration allows for synchronized user access management across the organization's technology landscape. The platform's key components include, 1)Identity Cube, a centralized repository for user identities and access rights, 2)Policies for enforcing organizational and regulatory standards, 3)Workflows for automating identity-related processes, and 4)Tasks, scheduled or event-driven processes for executing specific activities).
 
 
 SailPoint's identity governance solution helps organizations streamline audit and compliance processes, enhance security posture, and improve operational efficiency. It offers features such as role-based access control (RBAC), separation of duties (SoD) enforcement, password management, and compliance reporting. The platform leverages AI and machine learning (ML) capabilities to automate tasks, analyze identity data, and assist in determining appropriate access levels.
 
 
 In August 2022, SailPoint was acquired by Thoma Bravo in an all-cash transaction valued at ~USD 6.9 billion. Subsequently, it was delisted from the New York Stock Exchange.
 
 
 Key customers and partnerships
 
 
 SailPoint has established partnerships with various technology companies and has a strong customer base spanning multiple industries. Some notable customers are General Electric, Vodafone, ADP, and Western Union. SailPoint has also formed a partnership with Circle Security, a decentralized threat prevention platform, to enhance the security offerings for its customers.
 
 
 SailPoint actively collaborates with industry leaders, such as Cisco and Rapid7, to expand its identity security solutions and integrate with their respective products and services. The company maintains a partner ecosystem, including managed security service providers (MSSPs) and resellers, to facilitate the deployment and adoption of its identity governance solutions across various market segments.
 
 
 
</div>

SailPoint

Platforms that manage and control user access to systems, applications, and resources and govern the policies, processes, and controls necessary to ensure appropriate access levels, permissions, and entitlements are granted to users based on their roles, responsibilities, and organizational requirements

Platforms that manage and maintain controls, policies, and systems that govern the entire lifecycle of an employee's access to company resources, systems, and data

Platforms that provide an additional layer of security beyond traditional username and password authentication, including controls such as one-time passwords (OTP), biometric data recognition (such as fingerprint, facial recognition), hardware tokens, or push notifications to mobile devices as a means to strengthen the authentication process

Platforms that manage and secure the digital identities and access rights of customers or users across various applications, services, and resources of an organization

Platforms that focus on managing user credentials, including passwords, to ensure secure access to systems, applications, data and resources

Platforms that enable users to authenticate once and gain access to multiple systems, applications, or services without the need to provide separate credentials for each system or resource access and usage

IAM solutions enable personalization by tailoring user rights, roles, and access to services based on individual profiles

IAM solutions enhance transparency and accountability by controlling user access, monitoring activity, facilitating audits, and preventing unauthorized access, ensuring business data integrity

AI/ML in IAM help automate risk analysis, anomaly detection, and adapt access controls, improving security.

Certain customer IAM providers also offer biometric authentication solutions

This is a key demand driver for IAM solutions as companies switch to a hybrid work environment, driving the increased need to manage user identity and access to organizational resources

Companies offering IAM solutions offer their solutions under a B2B SaaS model

DISRUPTOR_PRESENT

PROMINENT_CATEGORY

Jumio and NextWealth have expanded their partnership to enhance Jumio's identity verification services. NextWealth will provide continuous identity verification services and manage back-office operations for Jumio, supporting its innovation efforts. This collaboration will ensure global support and consistent service quality for Jumio's customers. NextWealth's expertise in talent management and quality execution will also support Jumio's secure expansion.

Jumio

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