US-based identity verification platform developer IdentityMind Global closed a $10m series C round on Wednesday with contributions from investors including e-commerce firm Overstock.com.
Venture capital firm Benhamou Global Ventures and private equity fund manager Eastern Link Capital co-led the round, which included Hanna Ventures, Zanadu Capital Partners and all IdentityMind’s earlier investors.
IdentityMind operates a software platform that allows clients to scan a database of more than 200 million digital identities in order to carry out validation and anti-money laundering checks, for purposes such as risk assessment or screening for imposed government sanctions.
The company recently launched a division aimed at establishing legal compliance in cryptocurrency markets and initial coin offerings.
The series C capital will be put toward sales, marketing and international growth across Asia, Latin America and Europe. IdentityMind recently opened an office in China and expects to utilise China-headquartered Eastern Link Capital’s knowledge of the local market.
Mobile payment technology provider Mozido and SBT Venture Capital, part of financial services firm Sberbank, contributed to a round of undisclosed size for IdentityMind in 2015.
Investment firm Lakewood & Company led the 2015 round, which also featured Benhamou Global and asset management firm Cybernaut Investment Group.