Founded in 2010, Startupbootcamp is an award-winning global network of industry-focused accelerator programs. Startupbootcamp runs 3 accelerator programs in Amsterdam, one of which is focused on FinTech and CyberSecurity solutions. With 20+ programs in Europe, Asia, North & South America, MENA & Africa, selected startups gain access to the most relevant mentors, partners, and investors in their industry. Collapse

Startupbootcamp FinTech & CyberSecurity

JRJ Group is a private equity investment firm with a core focus on the financial services sector   The company is a growth-oriented investor and provides capital, deep operational expertise and expert strategic guidance to its portfolio companies. JRJ Group invests across the spectrum of the financial services sector and opportunistically in select other industries, particularly focused on mid-sized European-headquartered businesses, providing strong growth potential.   The financial services industry is hugely diverse, with a range of business models operating across myriad sub-sectors, serving a variety of customer types, and together comprising one of the largest areas of global economic activity. Within this context, JRJ Group employs an intensive research-oriented approach to the identification and analysis of compelling investable trends, and of those companies best positioned to exploit these trends.   Growth and value creation are achieved through application of an active management approach. This is facilitated by JRJ Group’s unparalleled access to top calibre human capital across the global financial services industry, as well as its ability to leverage an extensive network of top-level contacts within financial institutions, governments, regulators, and other financial industry decision-makers.

JRJ Group

Sumeru Equity Partners is a technology-focused private equity firm, founded in 2014 by an experienced team from Silver Lake Sumeru, a $1.1 billion mid-market firm started in 2007 within Silver Lake.   Consistent with the strategy of its predecessor firm,* Sumeru Equity Partners invests in building leaders in software, technology enabled services, and hardware. SEP partners with management teams and adds value through deep sector expertise and the application of strategic and operating services.

Sumeru Equity Partners

iProov

iProov is a cyber-security business based in London, providing strong biometric identity authentication of online users. It focuses on enabling users to log into online services simply, yet, securely. iProov specializes in facial recognition software. iProov is led by a team combining senior experience in growing global, high performance mobile and cloud services, with world class academic research expertise. The business has won many innovation grants from InnovateUK and the UK Government's innovation agency. iProov was established in 2011.

<div><p>iProov is a UK-based global technology company that offers face biometric verification and authentication. Its products include Enroller, which verifies the identity of new customers during the online onboarding process; Face Verifier, which is used as a primary authentication mode or as part of a multi-factor or step-up authentication; Basic Face Verifier, which authenticates a remote user&rsquo;s face against a pre-enrolled image; and Palm Verifier, a contactless solution that confirms a user&rsquo;s identity.</p></div>

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

Facial Recognition

Transactions with iProov’s biometric platform spike by over 60% in a year

iiDENTIFii

To enhance socio-economic inclusion through biometric identity solutions, improving access to government services and fostering financial inclusion, particularly in developing countries.

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.

UBS has partnered with iProov to onboard new customers online in a secure, fast, and convenient process. Using iProov face verification technology, UBS key4 customers can now onboard remotely 24/7 in only 5 minutes.

Acuant

Acuant is teaming up with iProov to enhance its facial recognition capabilitiies. To that end, the company will be integrating iProov’s Flashmark technology into its own Trusted Identity Platform to enable remote onboarding and authentication. Flashmark is noteworthy for its Genuine Presence Assurance liveness detection capabilities. With the Flashmark upgrade, customers will be able to leverage Acuant’s Trusted Identity Platform for onboarding and fraud prevention in a wide variety of industries. The Platform is compliant with the latest privacy and security regulations.

<div>
  <p>
    iProov is a UK-based global technology company that offers face biometric verification and authentication. Its products include Enroller, which verifies the identity of new customers during the online onboarding process; Face Verifier, which is used as a primary authentication mode or as part of a multi-factor or step-up authentication; Basic Face Verifier, which authenticates a remote user&rsquo;s face against a pre-enrolled image; and Palm Verifier, a contactless solution that confirms a user&rsquo;s identity.
  </p>
  <p>
  </p>
  <p>
    iProov uses a B2B sales model. Its technologies include Genuine Presence Assurance (which verifies the online identity of customers and citizens), Liveness Assurance Technology, and iProov Biometrics Web SDK to support web journeys for onboarding and authentication. It has offices in the US and Singapore.
  </p>
  <p>
  </p>
  <p>
    <b>Key customers and partnerships</b>
  </p>
  <p>
    iProov has partnered with several organizations, including 1CSR, Acuant, Approov, AK Networks, Blue Prism, Clear, ComplyAdvantage, Entrust, Evernym, and Cybernetica. The company&rsquo;s customers are based in industries such as financial services, healthcare, travel, safeguarding, and digital identity providers, as well as in the government and public sectors. The US Department of Homeland Security, UK Home Office, NHS, ING, Eurostar, and Rabobank are some of its customers.
  </p>
  <p>
  </p>
  <p>
    <b>Funding and Financials</b>
  </p>
  <p>
    iProov raised USD 70 million from Sumeru Equity Partners in a funding round in January 2022 to continue to build the company&rsquo;s presence in the US and other international markets.
  </p>
  <p>
  </p>
</div>


<div>
  <p>
    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.
  </p>
  <p>
    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.
  </p>
  <p>
    <b>Funding and financials</b>
  </p>
  <p>
    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.
  </p>
  <p>
  </p>
</div>


FacePhi

<p><span>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.</span></p><p><span>In January 2022, Sightcorp was </span><a href="https://sp-edge.com/updates/7828?industryIds=16"><span>acquired by Raydiant </span></a><span>, 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.</span></p>

Sightcorp

<div>
  <p>
    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.
  </p>
</div>


Okaya

<div>
  <p>
    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.
  </p>
</div>


FaceTec, Inc.

<div>
  <p>
    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. 
  </p>
  <p>
    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.
  </p>
</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 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

iProov

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless