Onfido co-founder and CEO Husayn Kassai (left) and board member Frank van Veenendaal (right). image: Onfido

Onfido, a London-based digital identification startup, has confirmed it’s raised $100 million in new equity financing led by private equity fund TPG Growth, with participation from existing investors M12 (Microsoft’s venture capital arm) and Salesforce Ventures alongside other backers. With the new financing, Onfido has now raised a total of $180 million in funding since its inception. London-based Onfido says it’ll channel the new financing towards product research and development (R&D) and global expansion.

Onfido’s previous funding rounds include a $50 million financing announced April of last year and an earlier $30 million funding round in 2017. Onfido has attracted many well-versed investors thanks to carving a niche for itself in the digital identification and security market. Onfido develops artificial intelligence-based software that helps companies verify identities using facial biometrics, in its case, via a selfie and pictures of passports, legal documents, identity cards or any other forms of manual identification. Companies like Revolut, Zipcar, DraftKings, and Remitly make use of Onfido’s software to verify identities and help prevent fraud and other shady activities, be it verifying whether an individual is truly the one authorizing a payment, ensuring an individual offering an on-demand service is exactly who he or she claims to be, and the likes. Altogether, Onfido has courted more than 1,500 customers.

Founded in 2012 by three Oxford University graduates, Onfido has become nothing short of a big success in less than a decade after its founding. Onfido mirrors a high-growth startup that happens to have found a problem, solved a substantial part of that problem, and gotten loyal customers as a result. Currently, Onfido employes around 350 people in offices across San Francisco, New York, Lisbon, Albuquerque, Paris, Berlin, Singapore, and New Delhi in addition to its London headquarters. Onfido’s team includes veterans from the likes of Spotify, Amazon, ForgeRock, SwiftKey, Adobe, and Workday. The vice-chairman of software giant Salesforce, Frank van Veenendaal, is also a board member, having joined after Salesforce’s venture capital arm made an investment in Onfido.

In February of this year, Onfido announced a 130% year-on-year revenue growth. The company grew its workforce by 60% year-on-year and clinched its first acquisition of a US-based company. That acquisition was Aviata, a specialist in developing custom code for enterprise clients. The plan was to put Aviata to work to accelerate onboarding for Onfido’s enterprise clients and also support its U.S. software production efforts. All of the aforementioned speaks of a healthy company that happens to be still growing rapidly.