CertifID, a wire fraud protection firm, says it landed $47.5 million in financing, allowing it to add jobs and expand its identity verification services.
The Austin, Texas-based company said Tuesday the financing is from Centana Growth Partners and Arthur Ventures and will help it build more tools that identify and block fraud in real time and help consumers and businesses move money more safely. CertifID isn't targeting a specific number of positions to add but will hire to fill openings in its sales, marketing, customer success and product-engineering divisions, CEO and founder Tyler Adams said in an email.
"All the jobs can be remote," Adams said this week. "We have a great office in Austin, though, and always love when talent is in/around Austin so they can be more hybrid."
The firm currently employs 120 people, Adams said.
Real estate-related fraud threats continue to increase, particularly those involving identity verification and the transfer of money, according to the company.
Several companies, including SEON, offer different types of products to secure real estate transactions. Closinglock, a fraud prevention technology provider for the real estate industry also based in Austin, closed early this year on a $34 million funding round led by Sageview Capital and also involving Headline and RWT Horizons.
CertifID's existing business model verifies identities and wire instructions and checks for fraud before consumers, title companies, real estate brokerages and law firms wire funds during transactions. It also provides wire fraud insurance and funds recovery services.
In January, the company announced the acquisition of a digital money transfer platform, Paymints.io of Hoboken, New Jersey.
CertifID said it prevented $1.3 billion in losses last year and has verified more than 1 million mortgage payoffs, returning more than $100 million to fraud victims.
"I’ve personally experienced the devastating impact of wire fraud, and we started CertifID to help ensure others don’t have to," said Tom Cronkright, the firm's co-founder and executive chairman, in a statement. "With this investment, we’re doubling down on innovation to stay ahead of shape-shifting fraud and deliver the highest level of protection to our customers.”