iProov raises £51.6m Series B funding from Sumeru Equity Partners to fuel international expansion
Sumeru Equity Partners led the growth investment to support the company in scaling its biometric face authentication technology.
iProov provides online biometric face authentication technology for governments and enterprises. The company secures digital onboarding and verification processes against cyber threats.
Cybersecurity firm iProov has secured £51.6m in a Series B growth investment from Silicon Valley backer Sumeru Equity Partners. The funding will enable the company to accelerate its expansion across the United States, scale its international customer base, and grow its partner network.
Founded in London, iProov has experienced rapid demand for its facial verification technologies from government departments and major financial institutions worldwide. The fresh capital follows a period of substantial commercial growth for the business, which tripled its revenues between 2020 and 2021.
From the founder
"This investment by one of America's leading growth funds recognizes the preeminent position we have established,"
Andrew Bud
Founder and CEO at iProov
Investor perspective
"iProov is a unique business and its combination of patented deep technology, exceptional customer references and hugely capable team positions the company for outstanding future growth,"
Kyle Ryland
Managing Partner, Sumeru Equity Partners
Use of funds
- 01Expand into international markets
- 02Grow the team
