CertifID receives $20 million in Collection B funding

Fraud prevention tech agency CertifID simply acquired a funding increase. The corporate secured $20 million in a Collection B funding spherical, in response to an announcement on Tuesday.

The funding spherical was led by Arthur Ventures, which additionally led their Collection A funding spherical in Might 2022, which produced $12.5 million in funding.

“CertifID is addressing a rising drawback in an business in search of trendy options,” Patrick Meenan, the final associate at Arthur Ventures, stated in an announcement. “Regardless of the challenges posed by a decelerating housing market, CertifID stands out as a know-how chief with a mission of utmost significance to the U.S. economic system.”

Between 2020 and 2022, the FBI reported that the true property sector skilled a 72% improve in enterprise e mail compromise, a key part to most wire fraud makes an attempt.

In 2023, CertifID launched a mortgage payoff fraud safety product, referred to as PayoffProtect, and the agency has entered into a number of enterprise partnerships together with one with fintech agency Acrisure. CertifID additionally studies that it has doubled its buyer base this yr.

“Since our founding, we’ve protected billions of {dollars} from tried fraud assaults, in addition to helped get well over $60M in stolen funds for victims,” Tyler Adams, CertifID’s CEO, stated in an announcement. “This funding will assist us proceed to safeguard towards the intensifying dangers of fraud.”  CertifID was not too long ago names the 23rd quickest rising personal software program firm within the U.S. in 2023 by Inc. 5000.