Onfido honored for achievements in identity verification and authentication
We're excited to announced that CB Insights today named Onfido to the fourth annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.
“It's been remarkable to see the success of the companies named in the Artificial Intelligence 100 over the last four years. The 2019 AI 100 saw 48 companies go on to raise $4.9B of additional financing and nine got acquired,” said CB Insights CEO Anand Sanwal. “It has been gratifying to see that CB Insights' data-driven approach to identifying the top AI companies using patents, customer traction, investor quality, market sizing and more has become so effective at picking the AI winners of tomorrow. We look forward to seeing what the 2020 AI 100 companies will accomplish over the course of this year and beyond."
In addition to disrupting core sectors including healthcare, retail, and finance, the 2020 AI 100 companies are revamping the broader enterprise tech stack. These companies span the globe, from the US, UK, China, Chile, and South Africa, and are supported by more than 600 investors.
“With the UN estimating that up to 5% of the world's GDP is made up of laundered money and data breaches showing no signs of slowing, being able to verify and authenticate who your customers are in a remote setting quickly and securely, has never been more important,” said Onfido CEO and Co-Founder Husayn Kassai. “Given that not all AI is created equal, it’s a huge honor that our AI-based approach to identity verification has been singled out by CB Insights for the second year in a row, as we continue to push the envelope for detecting bad actors.”
This recognition comes in the wake of Onfido’s strong 130% year-over-year growth in 2019 where it announced new AI innovations to capture fraud faster, its rapid US expansion and string of other recent accolades, including winning an InfoSec Award for Best Next Gen Fraud Prevention Product at RSAC, being ranked 1st on the FinTech50, 10th on Deloitte’s Fast 50 and 18th on Business Insider’s Tech 100.
With just a photo of an identity document and a selfie video, anyone can access a host of digital services in a matter of seconds from some of the biggest names in financial services, transportation, online marketplaces & communities, gambling and other industries—all fueled by Onfido’s AI-powered identity verification and authentication. To see Onfido’s award-winning product in action, sign up for a live demo here.
Through an evidence-based approach, the CB Insights research team selected the AI 100 from nearly 5,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
Quick facts on the 2020 AI 100:
As of the end of February 2020, these 100 emerging private companies have raised over $7.4B in funding across 300+ deals from 600+ unique investors.
There are 10 unicorns (companies valued over $1B) in this year’s AI 100 cohort.
The list spans across various industries, including healthcare, retail & warehouse, and finance & insurance.
13 countries, such as China, Sweden, and Japan, are represented on the ranking. The majority of startups (65%) are based in the United States.