Veridox raises £1m from Outward VC and Solo Investments Holdings Limited to expand its fraud detection platform.
Outward VC led the £1m round to help the startup bring its fraud analysis platform to the general market.
Veridox provides court-ready fraud insights and document analysis for insurers tackling digital manipulation. The Manchester startup equips investigators with explainable artificial intelligence to detect complex insurance fraud.
Manchester-based startup Veridox has secured £1m in funding led by Outward VC, with participation from Solo Investments Holdings Limited. The capital will be deployed to expand the team and accelerate product development ahead of a general market launch.
The company provides forensic document and image manipulation analysis for insurers, offering contextual reasoning rather than basic alerts to help investigators evaluate suspicious claims. Veridox has already established development partnerships with major insurers and law firms, demonstrating early traction in combating insurance fraud.
Use of funds
- 01Grow the team
- 02Continue product development
- 03Invest in sales and marketing
