<ul><li>Alloy, a platform for banks and fintechs to embed identity and fraud compliance, has raised USD 52 million in funding, co-led by Lightspeed Venture Partners and Avenir Growth with participation from Canapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures. The funding round – coming less than a year after its Series C funding – values the company at USD 1.55 billion and brings its total funding up to nearly USD 208 million.</ul> 

• The funds will be invested in expanding its service within its existing markets, further developing its product, and recruitment. 

• The company has reportedly doubled its annual recurring revenue (ARR) over the past year. 

<ul><li> Analyst quicktake: Earlier this year, an identity verification platform Veriff, raised USD 100 million in Series C funding , also at a USD 1.5 billion valuation. Incidentally, Alloy and Veriff went on to partner in April 2022 , for Alloy to enhance its AML and KYC solutions. Although both Alloy and Veriff have seen an uptick in their valuations, Socure remains the highest valued player in this space, valued at USD 4.5 billion as of November last year.</ul>