Persona Raises $200M in Series D Funding, Achieving $2 Billion Valuation Milestone
California’s innovative verified identity platform, Persona, has successfully secured US$200 million in a Series D funding round, co-led by Founders Fund and Ribbit Capital. This latest investment has propelled the company’s valuation to an impressive US$2 billion.
About Persona
Founded in 2018 by Rick Song, Persona specializes in providing identity infrastructure designed to assist various businesses, including social platforms, travel companies, and financial institutions. Their technology streamlines identity verification processes, enhances onboarding experiences, and aids in combating money laundering.
Funding Details
The recent funding round attracted notable participation from existing investors, including:
- BOND
- Coatue
- Chemistry
- First Round Capital
- Index Ventures
This investment follows Persona’s previous Series C round in 2021, where it raised US$150 million, boosting its valuation to US$1.5 billion.
Growth and Client Expansion
Persona has experienced substantial growth, doubling its customer base within the past year. Noteworthy clients include:
Moreover, the company has broadened its offerings to include workforce identity security and international Know Your Business (KYB) capabilities, reinforcing its commitment to comprehensive identity solutions.
Insights from Industry Leaders
Thomas Laffont, co-founder of Coatue, shared insights into the significance of identity verification:
“Identity is a foundational mega-trend driving digital transformation, and we’ve believed from day one that Persona would power this shift through its software-native solution.”
Future Plans for Persona
In light of rapid technological advancements, particularly in AI, Persona intends to utilize the new funding to develop a “verified identity layer”. This secure infrastructure will enable businesses to verify users while ensuring compliance with evolving regulations and risk models.
Furthermore, Persona aims to offer individuals a “reusable identity”, significantly reducing the need to repeatedly input sensitive personal information across various platforms.
For more information on how identity verification is transforming digital interactions, visit Persona’s official website.
