Onfido, one of the first startups to come out of the OUI incubator, raises $30m series C.
Onfido, an Oxford University startup developing the next-generation of verification and background checks, has secured $30m (£22m) in Series C financing.
Launched in October 2012 by three graduates of Oxford University and housed in the Oxford University Innovation Incubator, the company has since grown to a team of 150 across three continents. Its verification software is now used by over 1,500 businesses globally, and allows users to safely and securely access online services with an identity document and a selfie.
The latest round was led by Crane Venture Partners, the venture capitalist’s biggest deal to date, with participation from Microsoft Ventures and Salesforce Ventures, the corporate venture capital arms of the respective eponymous tech companies. Existing investors Idinvest, Wellington Partners and TempoCap also joined in the round.
To date, Onfido has raised $60.3m in external fundraising. The latest cash injection will be used to build up the company’s strength in European and American markets, while also facilitating an expansion of Onfido’s product and engineering teams.
Roy Azoulay, Senior Technology Transfer Manager – Incubator Lead at Oxford University Innovation, said:
“We had the privilege to support Onfido from the very early days, when they were just three founders sharing a desk in our incubator facilities – but even that early it was clear they were an exceptional team. It’s been thrilling to follow their progress and we hope and expect to see many of our current incubates follow in their footsteps.”