AiPrise Analysis: $2M Raised
What is AiPrise?
AiPrise sells an AI-powered global compliance platform for business verification, user verification, fraud detection, and AML screening. Its product set combines registry searches, document checks, watchlist screening, and risk scoring across more than 200 countries. The trust center says more than 200 companies use it, and the site reports coverage for 500M+ verifiable businesses and 5B+ verifiable users.
Location
2880 Zanker Rd, San Jose, California 95134, United States
Employees
11-50
Founded
2022
Revenue
$0-631K
Business Model
Subscription-based model with fees for identity verification and compliance services.
Product Features & Capabilities
- Verify individuals and businesses, Know Your Business (KYB), Global registry information, UBO & stakeholder verification, Social signals, Know Your Customer (KYC), One Click KYC, Global coverage with local documents, Enhanced fraud checks, Customizable onboarding flow, Risk-based decisioning, Streamlined compliance, Unified dashboard, Audit trail monitoring, Report generation.
Pricing
- Pricing plans based on company size:
- 0-50 Staff: Lower Price, Median Price, Upper Price (exact figures not specified)
- 50-150 Staff: Lower Price, Median Price, Upper Price (exact figures not specified)
- 150-250 Staff: Lower Price, Median Price, Upper Price (exact figures not specified)
- Average price Cledara customers pay for AiPrise: $2369 per year.
How much AiPrise raised
- - $2M
September 1, 2022Lead Investor: Y Combinator, Okta Ventures, Restive Ventures, Liquid2 Ventures, TwentyTwo Ventures, Wedbush Ventures, and strategic angel investors including Immad Akhund (CEO Mercury), Seth Weinstein (ex-Morgan Stanley), Vijay Krishnan (CTO Turing), Mit Shah (COO MethodFi), Samvit Ramadurgam, and others.
Investors
- Y Combinator
- Okta Ventures
- Restive Ventures
- Liquid2 Ventures
- TwentyTwo Ventures
- Wedbush Ventures
Market Focus
AiPrise primarily focuses on the identity verification and fraud protection industry, providing solutions for compliance and facilitating global expansion for individuals and businesses.
Competitors Overview
AiPrise operates in the identity verification and fraud protection market, facing competition from several notable companies. The main competitors include:
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Veriff: Specializes in AI-powered identity verification, focusing on fraud prevention and compliance, particularly in financial services.
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Trulioo: A Canadian company that provides global online identity verification solutions. AiPrise offers advantages over Trulioo, such as customizable workflows, a more developer-friendly API, and a flexible pricing model.
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Metamap: Focuses on KYC compliance but lacks the comprehensive solutions offered by AiPrise, which includes both KYC and KYB compliance, along with additional features like social media checks and risk scoring.
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Socure: Utilizes AI and machine learning for digital identity verification, particularly in financial services and government sectors.
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Jumio: Offers identity verification solutions using AI and machine learning, applicable across various industries.
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Lightico: Enhances customer service and sales processes through collaboration solutions.
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FullCircl: Combines various sources of company information to identify business opportunities and assess risks.
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iDenfy: Specializes in reducing fraud through effective identity verification solutions.
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Cognito: Simplifies identity verification through technology integrations.
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IDnow: Provides identity verification services with a focus on compliance.
Notable differences among these competitors include their specific focus areas, technological approaches, and pricing models, with AiPrise emphasizing customizable solutions and dedicated support.
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Financial Overview
$0-631KEstimated Revenue
$2MTotal Raised
-$2M
September 1, 2022
Investors: Y Combinator, Okta Ventures, Restive Ventures, Liquid2 Ventures, TwentyTwo Ventures, Wedbush Ventures, and strategic angel investors including Immad Akhund (CEO Mercury), Seth Weinstein (ex-Morgan Stanley), Vijay Krishnan (CTO Turing), Mit Shah (COO MethodFi), Samvit Ramadurgam, and others.