Technology-focused, investing capital and expertise to fuel growth in the most promising ideas and companies. Raised c.€600m across multiple funds and invest from seed to growth. We look for companies with potentially cutting-edge, category-defining businesses in markets including application software, IT infrastructure, communications, Internet and mobile. We help founders create and scale businesses globally. We work as a small team with diverse strengths accessing a community of over 200 founders.  The teams and companies we back scale their investor base as they scale their business execution and ambition. We work closely with them in this process. Over the past 25 years have built a broad network of US and European investors and founders that share our vision and approach. Act is based in Dublin, Ireland. Our most recent funds are supported by the European Investment Fund.

Act Venture Capital

Inspire Investments is a venture capital investment firm.

Inspire Investments

ID-Pal

ID-Pal enables businesses to verify the identity of customers in real-time simply, securely, and conveniently. Their identity verification solution is simple to use, easy to integrate, and instantly customizable to the specific needs of any business, eliminating the complexity, cost, timelines, and risk typically associated with regulatory compliance.

<div><p>Based in Ireland, ID-Pal offers facial recognition-based identity verification solutions for anti-money laundering (AML) and know your customer (KYC) applications. Using facial recognition and liveness detection technologies ID-Pal confirms if the person submitting a document online is both the rightful owner of the document and a real live person (i.e., not a digital or physical photo). The company uses both active liveness checks (which require the user to perform an action) and passive liveness checks (which do not require user actions but examine images for features like light exposure variation, depth, and motion detection) to determine the veracity. The company&rsquo;s passive liveness detection is certified for both level 1 and 2 of iBeta quality assurance. ID-Pal&rsquo;s services are offered through an application programming interface (API) that connects to existing infrastructure and integrates with existing business processes and applications. Customers of ID-Pal users can download the app and submit documents via the app.</p></div>

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

Facial Recognition

ID-Pal on LinkedIn: #identityverification #amlscreening #digitaltransformation #dx…

<div>
  <p>
    Based in Ireland, ID-Pal offers facial recognition-based identity verification solutions for anti-money laundering (AML) and know your customer (KYC) applications. Using facial recognition and liveness detection technologies ID-Pal confirms if the person submitting a document online is both the rightful owner of the document and a real live person (i.e., not a digital or physical photo). The company uses both active liveness checks (which require the user to perform an action) and passive liveness checks (which do not require user actions but examine images for features like light exposure variation, depth, and motion detection) to determine the veracity. The company&rsquo;s passive liveness detection is certified for both level 1 and 2 of iBeta quality assurance. ID-Pal&rsquo;s services are offered through an application programming interface (API) that connects to existing infrastructure and integrates with existing business processes and applications. Customers of ID-Pal users can download the app and submit documents via the app.
  </p>
  <p>
    ID-Pal has operations in Ireland, the UK, and the US.
  </p>
  <p>
    <b>Key customers and partnerships</b>
  </p>
  <p>
    ID-Pal has entered into strategic partnerships with ID product offering companies like HID Global and KYC Global and integration partners like Salesforce and Temenos, with a view to expanding market reach. Some of its customers include One4all, Zurich, Elavon, Trident Trust, BDO, and the American National University.
  </p>
  <p>
    <b>Funding and financials</b>
  </p>
  <p>
    ID-Pal raised 
    <a href="https://sp-edge.com/updates/11564?industryIds=16">
      ~USD 7 million
    </a>
     (EUR 7 million) in Series A funding in July 2022, bringing the total funding raised to USD 8.3 million. The funds were slated for the expansion of its global operations. 
  </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 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

ID-Pal

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