7/14/2023 0 Comments 100m lightspeed venture![]() ![]() ![]() Also over the past 12 months, the company has seen its annual recurring revenue (ARR) triple and number of customers double, according to Alloy CFO Kiran Hebbar. Ove r the last year, Alloy has evolved that platform to not only automate onboarding identity decisions but to also automate transaction monitoring and soon, credit underwriting. Put simply, the startup’ s initial mission was to help banks and fintechs make better identity and risk decisions using its single API service and SaaS platform. ![]() Existing backers Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures all put money in the latest round, bringing Alloy’s total raised to over $150 million since its 2015 inception.Īlloy was founded primarily to fix a “broken” onboarding process that has historically involved manual review when people applied for bank accounts online. Lightspeed Venture Partners led the Series C round, which comes just over one year after New York-based Alloy raised $40 million in a Series B financing. Alloy, which has built an identity operating system for banks and fintechs, announced Thursday that it has raised $100 million at a $1.35 billion valuation. ![]()
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