Priya PatelTLDR:
- Incognia, a location identity solutions innovator, has secured $31 million in a series B funding round led by Bessemer Venture Partners.
- The funding will support the continued development of Incognia’s digital identity signals, as well as its expansion across North America and EMEA, and into new verticals.
Incognia has closed a series B funding round, raising $31 million to support the development of its cutting-edge digital identity signals and its expansion across North America and EMEA. The funding round was led by Bessemer Venture Partners and saw participation from FJ Labs, as well as existing investors Point72, Prosus, and Valor Capital. The funds will be used to further enhance Incognia’s solutions, which combine device fingerprinting and exact location intelligence data to provide user verification and account security. The company aims to provide customisable risk analysis and actionable insights to consumer businesses in order to prevent fraud and build customer trust.
Incognia’s growth journey has been notable since its last funding round in 2022. The company has tripled its revenue, achieved 200% net revenue retention, and converted 100% of trials. Additionally, Incognia has delivered six times the return on investment to its clients, saving them millions of dollars per contract on average. Charles Birnbaum, a Partner at Bessemer Venture Partners, commended Incognia’s novel approach to fraud prevention, combining highly precise location awareness with device fingerprinting. He believes Incognia is quickly emerging as a market leader in addressing fraud across various customer segments. The funding will enable Incognia to roll out its fraud prevention solutions globally.
