About Prove
Prove is a company based in New York (United States) founded in 2008. It operates as a SaaS (Software-as-a-Service), and API-as-a-Product. Prove has raised $268.47 million across 14 funding rounds from investors including Synchrony, TransUnion and Verizon. Prove has completed 3 acquisitions, including MEDICI, Portabl and UnifyID. Prove offers products and services including Prove Pre-Fill®, Prove Identity®, Prove Auth®, and Prove Identity Manager℠. Prove operates in a competitive market with competitors including IDnow, Onfido, IDfy, Socure and Jumio, among others.
- Headquarter New York, United States
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Sectors
Technology
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Phone
*********
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Website
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Social
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- Legal Name Prove Identity, Inc.
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Products & Services of Prove
Prove offers a comprehensive portfolio of products and services, including Prove Pre-Fill®, Prove Identity®, Prove Auth®, and Prove Identity Manager℠. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Consumer onboarding is accelerated with pre-filled verified data.
Consumer identities are verified confidently using phone data.
Authentication is streamlined with secure, password-free user access.
Real-time identity tokens are managed for consumer servicing.
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Software Development Team
34 people
Leadership Team
33 people
Sales and Marketing
23 people
Product Management Team
10 people
Finance and Accounting
8 people
Legal and Compliance
7 people
Customer Team
6 people
Operations Team
5 people
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Funding Insights of Prove
Prove has successfully raised a total of $268.47M across 14 strategic funding rounds. The most recent funding activity was a Series F round of $43.91 million completed in August 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 14
- Last Round Series F — $43.9M
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First Round
First Round
(12 Jun 2008)
- Investors Count 27
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Aug, 2023 | Amount | Series F - Prove | Valuation | MassMutual Ventures , Capital One Ventures |
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| Mar, 2022 | Amount | Series F - Prove | Valuation | Stack Capital Group |
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| Jun, 2020 | Amount | Series F - Prove | Valuation | Apax |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Prove
Prove has secured backing from 27 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Synchrony, TransUnion and Verizon. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Corporate-backed venture capital fund
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Founded Year | Domain | Location | |
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Tech startups are invested in by Capital One Ventures firm.
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Founded Year | Domain | Location | |
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Growth capital is invested in later-stage businesses by the firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Prove
Prove has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include MEDICI, Portabl and UnifyID. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Financial identity services are provided by Portabl for secure verification.
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2020 | ||||
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Implicit authentication and machine learning-based identity access management are provided.
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2015 | ||||
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FinTech news and information are provided through an online platform.
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2013 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Prove
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Prove Comparisons
Competitors of Prove
Prove operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as IDnow, Onfido, IDfy, Socure and Jumio, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Automated and expert-led identity verification services are provided.
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| domain | founded_year | HQ Location |
Identity verification solutions are provided, including document and biometric authentication.
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| domain | founded_year | HQ Location |
Identity verification, background screening, and fraud prevention solutions are provided.
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| domain | founded_year | HQ Location |
AI-based identity verification and fraud detection are provided.
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| domain | founded_year | HQ Location |
AI-powered identity verification and fraud protection solutions are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Prove
Frequently Asked Questions about Prove
When was Prove founded?
Prove was founded in 2008.
Where is Prove located?
Prove is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Prove a funded company?
Prove is a funded company, having raised a total of $268.47M across 14 funding rounds to date. The company's 1st funding round was a Series F of $100M, raised on Jun 12, 2008.
What does Prove do?
Prove is established as a global leader in digital identity verification and authentication solutions. Services are provided to over 1,500 companies across various industries including banking, healthcare, fintech, and online gaming. Solutions such as Prove Pre-Fill, Prove Identity, and Prove Auth are designed to reduce fraud, enhance consumer experiences, and streamline onboarding processes. Operations are supported in over 200 countries, leveraging a registry of over 1 billion identity tokens. Consumer friction is minimized through innovative, secure, and seamless technologies.
What products or services does Prove offer?
Prove offers Prove Pre-Fill®, Prove Identity®, Prove Auth®, and Prove Identity Manager℠.
How many acquisitions has Prove made?
Who are Prove's investors?
Prove has 27 investors. Key investors include Synchrony, TransUnion, Verizon, Apax Partners, and TNSI.
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