CertifID receives $20 million in Series B financing | ET REALITY

[ad_1]

Fraud prevention technology company certificate ID just got a funding boost. The company raised $20 million in a Series B funding round, according to a Tuesday announcement.

The financing round was led by Arturo Ventureswhich also led its Series A funding round in May 2022, which produced $12.5 million in funding.

“CertifID is addressing a growing problem in an industry seeking modern solutions,” Patrick Meenan, general partner at Arthur Ventures, said in a statement. “Despite the challenges posed by the housing market slowdown, CertifID stands out as a technology leader with a mission of utmost importance to the American economy.”

Between 2020 and 2022, the FBI reported that the real estate industry saw a 72% increase in business email compromise, a key component in most email fraud attempts.

In 2023, CertifID launched a mortgage payment fraud protection product, called PayoffProtect, and the company has entered into multiple business partnerships, including one with a financial technology company. acrisura. CertifID also reports that it has doubled its customer base this year.

“Since our founding, we have protected billions of dollars from attempted fraud and helped recover more than $60 million in stolen funds for victims,” ​​Tyler Adams, CEO of CertifID, said in a statement. “This investment will help us continue to protect against increasing fraud risks.” CertifID was recently named on the 23rdthird Fastest Growing Private Software Company in US in 2023 According to Inc 5000.

Leave a Comment