Persona Raises $150M for Customer Identity Infrastructure

Customer identity infrastructure platform Persona on Wednesday (Sept. 15) announced the closure of a $150 million round of Series C fundraising, giving the firm $200 million in investment funding in the past six months.

Persona’s Series C fundraising round was led by Founders Fund and also featured participation from Meritech Capital Partners, BOND and existing investors Index Ventures and Coatue Management. The company has now raised $217.5 million; its  Pers

“Identity is at the core of every business, whether you’re a bank verifying an account holder, a marketplace corroborating sellers, or a company onboarding new employees,” said Rick Song, CEO of Persona, in the company announcement.

“But identity isn’t a one-off transaction — it’s a relationship. With Persona’s identity infrastructure, businesses can go beyond verifications and build trust throughout the customer lifecycle by offering a safer, faster and more tailored experience for each individual,” he said.

Persona’s configurable solution uses automation to help businesses tailor their identity processes and personalize their user flow based on risk tolerance, use case and customer base. Among its customers are Square, DoorDash, Coursera, Robinhood, Gusto, BlockFi, Sonder and Brex.

The latest round of financing will help Persona add to its team and extend its identity infrastructure offerings.

Related: New Report: Half of Large Firms Are Focused On Digital Identity and Authentication

In “The Next Wave: The Business Adoption Of Digital Fraud Solutions Playbook,” a PYMNTS and Equifax collaboration, more than 300 surveyed decision-makers from auto dealers, banks and credit unions to P2P alt-credit lenders looked at several factors related to digital identity innovation, noting company size and age are a factor in how businesses rate the urgency of digital identity solutions today.

Almost half (49%) of companies earning over $500 million in annual revenue who responded to the survey called digital identity authentication “more” or “much more” important now than it was in 2020.

Smaller firms (under $50 million in annual revenue) “represent 60% of businesses that believe that using digital processes is ‘less’ or ‘much less’ important,” according to PYMNTS’ research.