• FOUNDING YEAR: 2008
    LOCATION:
    United States
    REGION:
    NY
    Last Update:
    18 Oct, 2019
    Phone:
    +1 212-614-6927

Description

FOCUS

PRODUCTS & SERVICES:
Payfone offers a range of products like: 1. Instant Authentication for Mobile: Payfone APIs that can identify new and existing users through their mobile numbers. 2. Instant Authentication for Voice: Payfone APIs that can identify new and existing users through mobile calls. 3. Instant Link for Web: Can authenticate web interactions on PC, thereby eliminating critical SMS OTP vulnerabilities like SMS phishing, SMS forwarding, eavesdropping, and SS7 attacks. 4. Identity Pre-fill: Enables users to extract pre-verified information about customers from verified sources. 5. Trust Score: Analyzes digital signals from multiple sources in order to verify customers. 6. Fonebook: Fonebook is a framework for digital identity that links customer IDs with anonymous identity tokens in order to authenticate digital transactions.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
It has major customers from sectors like retail, healthcare, insurance, finance and technology industries.
EXISTING PARTNERSHIPS:
The company has partnerships with mobile network operators like O2, EnStream, Verizon Wireless, etc. Other partners include Cardinal Commerce, AmEx. and Early Warning.

PEOPLE

FOUNDERS:
Mike Brody, Rodger Desai.
Board Members and Advisors:
Mike Brody, Charlie Fote, Eric Woodward, Gill Cogan, Stuart Ellman, Rodger Desai, Kevin Talbot, Mark Smith, Mike Lee, Hans Fleming, , Andrew Prozes.
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
Synchrony Financial, MassMutual Ventures, BlueCross BlueShield Venture Partners, Relay Ventures, RRE Ventures, Opus Capital, Early Warning, American Express, Verizon Ventures, Rogers Venture Partners, TNS, IDology, BlackBer Rypartners Fund, Anil Aggarwal, Jonathan Weiner, Andrew Prozes, and Strauss Zelnick.
KEY EMPLOYEES:
Rodger Desai (CEO); Michael Ragunas (CTO); Tom FitzSimmons (CFO)

TRACTION

REVENUE COMMENT:
Viewable by subscribers only
TRANSACTIONS COMMENT:
The company is hitting 50 million authentication events per day for Fortune 100 clients. It is estimated to authenticate 19 billion transactions by the end of the year. (March 2018)

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$93.42 Millions
DATE OF LAST FUNDING:
Feb 2018
TOTAL FUNDING COMMENT:
The company is planning to use its funds to expand its user experience and to enhance cybersecurity services in the retail, insurance, and healthcare sectors (Feb. 2018).
SEED & PRIOR FUNDING:
$2.66 Millions
SEED CLOSED ON:
Jul 2016
FUNDING SERIES:
SERIES A
$1.6 Millions Closed: Jun 2008
SERIES B
$11 Million Closed: Aug 2010
SERIES C
$19 Million Closed: Apr 2011
SERIES D
$12.66 Millions Closed: Jun 2016
SERIES E
$46.5 Millions Closed: Feb 2018
LISTED:
NO
COMMENT:
Debt Financing: $5.5 M (October 2015)

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