Total amount raised
$12 Millions
Latest funding date
9/1/2022
Location
Alloy has successfully raised significant funding over multiple rounds, attracting a diverse group of investors including Avid Ventures and Felicis Ventures. The company offers an identity verification platform designed to detect fraud and streamline identity management for financial institutions.
Continue reading to delve into the details of Alloy's funding journey and the investors who support this innovative platform.
What Is Alloy?
Alloy, founded in 2015, is based in New York, New York. The company was established by Laura Spiekerman and Tommy Nicholas.
Alloy specializes in providing an identity verification platform that helps financial institutions detect fraud and streamline identity management. Their platform integrates various data sources to offer a comprehensive solution for managing customer identities.
With a team of 251-500 employees, Alloy continues to innovate in the field of identity verification, making it easier for banks and financial institutions to manage compliance and reduce fraud risks.
How Much Funding Has Alloy Raised?
- Venture Round
- Amount Raised: $5.1M
- Date: February 1999
- Lead Investors: BEV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and support initial growth.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2000
- Lead Investors: Liberty Digital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance product offerings.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: August 2015
- Lead Investors: Mastercard Start Path
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources from Mastercard.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2015
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market entry.
- Seed Round
- Amount Raised: $3.8M
- Date: October 2017
- Lead Investors: Eniac Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and expand market reach.
- Series A
- Amount Raised: $12M
- Date: September 2019
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase customer acquisition.
- Series B
- Amount Raised: $40M
- Date: September 2020
- Lead Investors: Canapi Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand into new markets.
- Series C
- Amount Raised: $100M
- Date: September 2021
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: $1.35B
- Motivation Behind the Round: To accelerate growth and enhance global presence.
- Series C
- Amount Raised: $52M
- Date: September 2022
- Lead Investors: Lightspeed Venture Partners, Avenir
- Valuation at Round: $1.55B
- Motivation Behind the Round: To support global expansion and address rising fraud challenges.
Total Amount Raised: $212.9M. Current Valuation: $1.55B.
Key Investors
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a leading venture capital firm that invests in the enterprise, consumer, and health sectors. They have a strong track record of supporting high-growth companies.
- Investment Focus Areas: Technology, enterprise, consumer, health sectors.
- Notable Investments: Snapchat, Affirm, MuleSoft.
- Avenir Growth
- Details: Avenir Growth is a growth equity firm that focuses on investing in high-growth technology companies. They aim to support companies with significant growth potential.
- Investment Focus Areas: High-growth technology companies.
- Notable Investments: Not publicly disclosed.
- Canapi Ventures
- Details: Canapi Ventures is a venture capital firm specializing in early to growth-stage fintech companies. They provide strategic support to innovative financial technology startups.
- Investment Focus Areas: Fintech companies.
- Notable Investments: Not publicly disclosed.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm with a broad investment portfolio across various sectors. They have a history of backing successful technology and healthcare companies.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that invests in early-stage technology companies. They focus on supporting startups with disruptive potential.
- Investment Focus Areas: Fintech, healthcare, enterprise software.
- Notable Investments: Shopify, Fitbit, Credit Karma.
What's Next for Alloy?
Alloy's future is brimming with opportunities as it expands into 40 countries across North America, EMEA, LATAM, and APAC. The global demand for fraud prevention tools and identity decisioning platforms is on the rise, and Alloy is well-positioned to meet this need. With a valuation of $1.55 billion and a client base of over 300 companies, the potential for growth is substantial. The company processes over a million decisions daily, indicating a robust and scalable platform.
Given its rapid growth and recent $52 million funding round, Alloy is likely to attract further investments to support its expansion and technological advancements. The increasing complexity of fraud and the need for automated identity verification solutions present both opportunities and challenges. Navigating diverse regulatory requirements and staying ahead of sophisticated fraud tactics will be crucial for Alloy's continued success. However, with strategic investments in R&D and a focus on enhancing its platform, Alloy is poised to maintain its leadership in the identity verification space.
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