New York-based Alloy closed a fresh $52 million round at a $1.55 billion valuation, just about a year after first being minted a unicorn.
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Last September, Alloy raised a $100 million Series C, also led by Lightspeed, at a $1.35 billion valuation.
Fintech and identity management
Alloy sits right at the intersection of fintech and identity management—sectors that continue to see a lot of interest from investors.
The startup helps banks and financial institutions understand who is doing business through them—a necessity to remain compliant with financial rules.
Alloy’s platform allows its clients to pull in customer information, traditional credit bureau data, and alternative data for a fuller picture of who it is doing business with and to fight fraud.
“We feel incredibly lucky to have partners that not only understand the impact of our investments into our platform and in expanding globally but also proactively come to the table to support them,” said Tommy Nicholas, co-founder and CEO, in a statement. “With this newest investment we’ll be able to accelerate our growth and better address the global fraud challenges that companies are facing.”
Fighting fraud and knowing a customer’s real identity is now of paramount importance to banks and fintech companies as they must abide by government regulations or face the possibility of severe penalties, including fines.
More than 300 companies use Alloy’s platform to connect to more than 160 data sources and automate identity decisions, the company said. Alloy has clients across North and Latin America, EMEA and APAC
Founded in 2015, Alloy has now raised just over $200 million.
Illustration: Dom Guzman
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