Middesk, a San Francisco, CA-based provider of an identity platform automating business verification and underwriting decisions, raised $57M in Series B funding.
The round was led by Insight Partners and Canapi Ventures, with participation from Sequoia, Accel, and Gaingels
The company intends to use the funds to invest in new and existing products, scale the team, and educate the market about business identity.
Led by CEO Kyle Mack, Middesk provides a business identity platform. Its infrastructure solution provides the tools, data, and documents needed by banks, insurers, credit card companies, lenders, payment firms, payroll companies, and other service providers to automate onboarding in regulated industries. Its platform provides complete up-to-date data on businesses in the United States and automatically notifies service providers of changes to its customer base, enabling them to make informed decisions during and after onboarding. This allows service providers to quickly form an accurate picture of their customers and offer the critical products their customers need to establish, operate and maintain their businesses. With its identity-as-a-service APIs, businesses can verify, underwrite, and enable their customers to grow their businesses. Current customers include Plaid, Affirm, Bluevine, and Novo, as well as several large banks and lenders.
FinSMEs
10/06/2022