Data Zoo, known for their pioneering verification solutions, has garnered $22.7 million in Series A financing from the leading firm Ellerston JAADE.
TLDR
- These resources will propel Data Zoo forward, enabling the expansion of their tech solutions that utilize authenticated data from a global network spanning over 170 countries.
- Their technology is crafted to decrease client attrition, cut down expenses, and enhance customer approvals, always with an emphasis on safeguarding user information.
- OCR Labs, setting its sights on international expansion, has successfully pulled in $15 million from Turkish investors Oyak Group to take its offerings to new European markets, including the UK and Turkey.
- OCR Labs is pushing the frontiers with their exclusive technologies that deal with document OCR, fraud analysis, and biometric identification, all supporting AML and KYC needs.
- With a generous $22.7 million fund injection from Ellerston JAADE, Data Zoo is gearing up to broaden the implications of its innovative identification verification systems.
Australian startup Data Zoo Operating since 2011, Data Zoo is keen to utilize newfound capital to fortify the adoption of its technologies leveraging a massive array of international data. Their approach automatically verifies individuals using optimal data sources, aiming to cut down offboarding issues and cost, while scaling up business acceptance rates, all while ensuring privacy through zero data storage.
Teaming up with industry giants like eToro and MoneyGram, Data Zoo is strategically placed to deepen its market penetration, under the new leadership of seasoned executive Charlie Minutella.
From Down Under, another pioneering player, OCR Labs, is on the rise with a fresh $15 million Series A infusion.
Launched in 2018, OCR Labs specializes in crafting digital ID solutions to thwart identity fraud, improve onboarding, and navigate regulatory landscapes.
Their holistic system integrates five advanced technologies, encompassing document OCR, liveness checks, and facial recognition to combat fraudulent activity and maintain AML compliance. This robust strategy addresses the intricate regulatory framework, providing a solid tool for businesses venturing into the digital verification realm. led by Turkish investors Oyak Group.
The digital landscape, fueled by the remote work surge, offers startups like Data Zoo and OCR Labs the perfect chance to thrive in this evolving terrain.
With a swell of investment and expansive strategies, these enterprises are set to carve out a significant place in the global identity verification arena.
At the helm of Blockonomi, the Editor-in-Chief, and the visionary behind Kooc Media, holds a firm belief in the transformative power of open tech and a liberated Internet. and Know Your Customer (KYC) His insights resonate across noteworthy platforms like Nasdaq, Techcrunch, and The New Yorker. Reach out to [email protected].
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