Prove Secures US$40 Million in Funding for Expansion of Digital Identity Solutions
Prove Secures US$40 Million in Funding for Expansion of Digital Identity Solutions
Prove, a leading provider of digital identity solutions, has successfully concluded a funding round, raising $40 million. The funding round was led by MassMutual Ventures and Capital One Ventures.
Prove Secures $40 Million in Funding for Expansion of Digital Identity Solutions

Prove specialises in identity verification and authentication, offering a platform that empowers businesses to establish “frictionless consumer experiences” while maintaining robust security standards.

Notably, Prove’s clientele includes prominent entities such as nine out of the top 10 US banks, two of the top three global cryptocurrency exchanges, three of the top five US retailers, two of the top three US healthcare companies, and six of the top 10 insurance companies in the US.

The freshly secured funds will be strategically leveraged to launch new use cases focused on commerce enablement and anti-fraud measures. Additionally, Prove aims to further its global expansion initiatives and address the evolving threats faced by both public and private institutions navigating the intricacies of the digital economy.

This funding milestone underscores the growing importance of digital identity solutions in today’s business landscape and positions Prove as a key player in shaping secure and seamless consumer interactions across various industries.

Speaking about the successful fund raise, Rodger Desai, co-founder and CEO of Prove, said:  “As our daily lives become increasingly digital, Prove’s mission is to be the global standard for fast, secure, and privacy-first digital identity. This funding will further our work toward comprehensive digital identity solutions that secure the future for all.” 

Charles Svirk, partner at MassMutual Ventures also commented, saying: “Prove is driving a paradigm shift in how businesses and consumers interact securely. As consumers continue to experience risk in their engagement with brands, Prove’s solutions ensure that verified and authenticated information is being used, enabling brands to drive both loyalty and revenue.”

He added: “We’re delighted to continue supporting Prove as they redefine how we look at digital identity.”

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