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Once upon a time, humans lived in small groups of hunter-gatherers. Back then, you spent almost all your time with your tribe and it was easy to know everybody. Then we discovered agriculture, built complex societies, and invented the internet. Nowadays, the simple question of “who are you?” is much harder to answer.
Identity verification in the United States is especially bad. Our national identifier is the SSN, which is supposed to be unique and secret but is neither. Our identity cards see little use and are easy to forge. Organizations spend lots of time and money on this problem, but fraud nonetheless proliferates and honest people suffer from unnecessary friction and false positives.
At SentiLink we believe determining whether somebody is who they say they are can and should be easy and effective. Organizations should be able to prevent fraud, but do it so naturally that consumers don’t even notice. It should be simple, cheap, and work.
We are excited to announce today that we’ve raised $70M in our Series B to make this vision a reality, led by David Sacks at Craft. We’re already using these funds to develop new products, starting with the launch of our “KYC Insights” product at the end of September, and to research new fraud issues, like credit washing, J1/F1 fraud, and the laundering of stolen public benefits funds. And as we discover new issues with our partners, we will tackle those as well.
My co-founder Max and I would like to thank our investors for their conviction in us and in our vision. We’d also like to recognize the entire SentiLink team for doing “whatever it takes” to bring us to this moment.
And finally, all of us at SentiLink would like to offer an emphatic “thank you” to our partners. It’s our honor and great pleasure to partner with you and support your identity, fraud and risk programs. Thank you for working with us and we are excited to build the future of identity together with you.
Very truly yours,
Naftali
