IdentityMind

regtechauthentication and fraud preventionekyc/aml/cftrisk management

STATUS: Acquired/Merged
FOUNDING YEAR: 2013
LOCATION: United States
Last Update: 17/07/2020

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About

IdentityMind is a Trusted Digital Identity (TDIs) company and offers a SaaS platform that builds & analyzes digital identities globally. It provides an on-demand platform offering next-generation risk management and anti-fraud services for the e-commerce ecosystem, including acquiring banks, payment processors & gateways, payment service providers (PSP/ISO/MSP, IPSP), and online merchants.

Focus

PRODUCTS & SERVICES

It offers IDMRisk, a fraud prevention and risk management platform that recognizes e-commerce entities (users, affiliates, merchants) and builds their payment reputation based on their behavior and risk profile; and IDMPay that provides payment processing solutions to merchants worldwide featuring Tier-1 PCI compliant gateway & PSP services, alternative payment solutions, customizable billing options, and multi-currency settlements. The company’s platform evaluates merchant account applications during the onboarding & underwriting process as well as monitors transactions and applies heuristics & analytics for detecting suspicious activities associated with money laundering.

REVENUE MODEL

The company offers three plans: 1. National Plan, which costs $99 per month if billed annually. 2. International Plan, which costs $199 per month if billed annually. 3. Enterprise Plan

MAIN CLIENTS

Retail and institutional customers

EXISTING PARTNERSHIPS

Experian

Callcredit Information Group

Acuant

Mitek

Avoka

Accertify

Inc.

Traction

VALUATION / MARKET CAP:

$72 M in 2015

People

BOARD MEMBERS AND ADVISORS

Victor Orlovski

Robert Selander

Eric Buatois

Paul Conley

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Benhamou Global Ventures

Cybernaut

Cybernaut Venture Capital

Eastern Link Capital

Fortress Investment Group

Hanna Ventures

Lakewood & Company

Mozido

Overstock

Overstock.com

SBT Venture Capital

Zanadu Capital Partners.

KEY EMPLOYEES:

Garrett Gafke (CEO)

Jose Caldera (CMO)

Kieran Sherlock (CTO)

Garrett Gafke

COMMENT:

1- Garrett Gafke - Prior IdentityMind Global, Mr. Gafke served as President & CEO of Paymate, an innovative provider of payment,risk management services which was acquired by Flexigroup(FLX).Prior to Paymate, Mr. Gafke worked as advisor/Interim-CEO for several top-tier venture firms,private equity firms. 2- Kieran Sherlock -He has over 25 years experience developing high-availability distributed systems, with his last 15 years being spent in the security,anti-fraud space.

Momentum

FUNDED

YES

TOTAL FUNDING

$21.5 M

DATE OF LAST FUNDING

Nov 2017

TOTAL FUNDING COMMENT

The company is planning to use the funds to drive expansion within international markets, and sales. (Feb. 2018)

FUNDING SERIES

SERIES B  · $8.5 M  · Dec 2014

SERIES C  · $10 M  · Nov 2017

OTHERS  · $3 M · May 2013

LISTED

NO

BASICS

STATUS:

Acquired/Merged

FOUNDING YEAR:

2013

LOCATION:

United States

Views:

545 VISITORS | 909 VIEWS
LATEST FUNDING ROUND

$21.5 M

TOTAL EMPLOYEES
51-200

About

IdentityMind is a Trusted Digital Identity (TDIs) company and offers a SaaS platform that builds & analyzes digital identities globally. It provides an on-demand platform offering next-generation risk management and anti-fraud services for the e-commerce ecosystem, including acquiring banks, payment processors & gateways, payment service providers (PSP/ISO/MSP, IPSP), and online merchants.

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