Market Insights

AimBrain raises £4M, AirBnB buys Trooly: Friday Deal Book for 6/23/2017

One World Identity’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements in the identity industry. Here’s a quick peek at what you need to know for the week ending June 23, 2017.

Biometric authentication startup AimBrain raises £4 million Series A funding
The London based startup saw investment from Episode 1, Entrepreneur First (EF), and a number of angel investors. AimBrain provides behavioral, facial, and voice biometric authentication solutions, primarily to financial services clients. The adoption of biometric authentication solutions continues to grow in the consumer market, but password logins continue to constitute a large proportion of the market. [Read more]

AirBnB acquires background check startup Trooly
AirBnB moved to acquire one of its background check vendors. Trooly, a California based startup, has been providing background checking services to AirBnB since 2014. Deal terms have not been disclosed. Trooly had previously raised $10 million in series A funding, including participation from Bain Capital Ventures and Millway Ventures. Sharing economy startups and giants alike face challenges in balancing simple customer onboarding with ensuring the safety of its users. The move suggests that AirBnB will look to develop in house capabilities as a core part of its product offering. [Read more]

Bank API provider TrueLayer raises $3 million Series A
The Series A round was led by Anthemis Group with participation from Connect Ventures, an existing investor. TrueLayer provides a developer platform for FinTech companies to access bank APIs for processes such as account verification, KYC processes, accessing transactional data for account aggregation, credit scoring, and risk assessment. The product is currently available in the UK – the company plans on using the additional funding to expand to other banks and EU countries ahead of the the PSD2 directive taking effect in January 2018. Regulatory actions in Europe, especially PSD2 and GDPR, continue to drive significant investment into companies providing services for compliance with the directives. [Read more]

Precise Biometrics sells its smart card business to IDENTOS
IDENTOS will take over all operations of Precise Biometric’s Mobile Smart Card Solutions business area as of January 1, 2018 – as compensation, IDENTOS will pay Precise Biometrics commission on sales during until 2020.. Precise Biometrics estimates that these commission payments will not have any significant impact on its earnings. Precise Biometrics will focus its development and sales efforts on its fingerprint technology line. IDENTOS is a provider of security infrastructure including identity and compliance management, as well as device authentication and security. [Read more]

Orange and Bangkok Bank invest in identity provider Danal
California based Danal announced that it has received strategic investment from Orange and Bangkok Bank. The company, which provides mobile identity and authentication solutions, plans to use the investment to expand global coverage of its Mobile Identity Platform. Danal has been working with Orange since 2015 and leveraging the mobile operator’s data for its products. The use of mobile operator and other telecommunications data for both identity verification and authentication remains of high interest to investors and mobile operators alike. [Read more]

Authentication provider Trusona raises $10 million Series B
The round was led by Microsoft Ventures with participation from Kleiner Perkins Caufield & Byers, a current investor. Trusona will use the funding to drive the international expansion of its passwordless identity authentication product. In addition to providing an alternative to password authentication, Trusona provides an insured product to protect high value transactions. [Read more]