Polish identity verification vendor Authologic has closed on an $8.2 million Series A funding round.
Autholgic eliminates the need for uploading documents and photos for KYC and fraud prevention through the agregation of hundreds of e-ID systems onto a single unified platform.
By integrating seamlessly with existing KYC infrastructures, Authologic allows companies to adopt secure e-ID solutions wherever possible, easing the transition towards digital IDs.
The funding round is led by European venture capital firm, OpenOcean, with participation from YCombinator VC firm, Peak Capital.
With offices in Warsaw, Poland; London, UK, and San Francisco, US, the investment positions Authologic to expand its offering internationally to join its existing household name customers like Santander Leasing, LV Bet, and eToro.
Krzysztof Klimczak, CEO and co-founder of Authologic, says: "Identity is the foundation of a well-functioning society. If we can’t be sure who we’re dealing with online, it undermines trust in marketplaces, social interactions, and even democracy itself. That’s why digital identities must be easy to use and the practice of taking photographs of plastic ID cards should be left in the past."