Numeracle, which verifies the identities of businesses that contact consumers by phone, has raised $28 million from Edison Partners to expand its business identity verification platform across telecommunications, messaging and other digital communications.
The company says the investment will fund growth in its sales, go-to-market, product development and research teams, as well as its international operations. Numeracle plans to extend its verification technology beyond voice calls to messaging, Rich Communication Services and other digital channels.
Through its Entity Identity Management platform, Numeracle verifies that a business is a legitimate operating entity and links that verified identity to the company’s communications infrastructure. The information can be used to correct inaccurate spam labels applied by carriers’ automated call-blocking systems and to support more reliable caller identification. Verified businesses can also use branded calling to display their names on outbound calls. Numeracle says it verifies and protects the business identities of more than 4,000 enterprise brands.
“We built Entity Identity Management because fraud and impersonation are not fundamentally communications problems, they are identity problems,” said Rebekah Johnson, Numeracle’s founder and CEO. Johnson previously worked in regulatory compliance at telecommunications provider West and took part in the Federal Communications Commission’s Robocall Strike Force before founding the company.
Numeracle is also developing identity verification services for platforms that need to confirm a business is legitimate before granting it access. Its newest offering, Know Your Customer as a Service, provides managed business identity verification during onboarding and throughout the customer relationship. The company is positioning the service for carriers as the FCC considers further identity verification and customer vetting requirements, after earlier preparing its telecom KYC platform for proposed Know Your Upstream Provider rules.
The company reported a 70 percent increase in its annualized revenue run rate over the past 16 months. Its customers range from independent local businesses to Fortune 500 companies across financial services, retail, healthcare and home services.
“With Rebekah’s extensive experience in telecommunications and compliance, Numeracle has become a trusted partner to both the enterprises making calls and the carriers delivering them,” said Lenard Marcus, general partner at Edison Partners, which manages about $2.5 billion in assets.
Sources: citybiz
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By the ID Tech Editorial Team
