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Launch year
2015
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Region
Baltics
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Country
Estonia
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Our score
90
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Business category
Tech Companies
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Main industry
Software & IT Services
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Tech layer
Complex Tech
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Category
Cybersecurity
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About the startup
Veriff was founded in Tallinn, Estonia in 2015 by Kaarel Kotkas. The company provides AI-powered identity verification, biometric authentication, document verification, AML screening, and fraud prevention as an API-based platform for businesses operating online. Veriff's video-first verification approach analyzes over 1,000 data points per session, supporting 12,000+ document types across 230+ countries and 48 languages. The platform serves fintech, crypto, gaming, mobility, e-commerce, and marketplace customers, with recent wins including Western Union, Instacart, Uber, and Bumble. Veriff achieved unicorn status in 2022 at a $1.5B valuation and reported doubling revenue to approximately $100M in 2025 while reaching profitability. The company has over 500 employees across Tallinn, Tartu, New York, and São Paulo, with the US as its largest revenue market. Certifications include ISO/IEC 27001, SOC2 Type II, ISO/IEC 30107-3, and UK Cyber Essentials.
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Main NAICS code
518210 — Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
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Target market
Mobility, iGaming, Communities, E-commerce, Financial Services, Human Resources
/Business tags
User Verification Platform, Biometric Analysis Technology, Real-time Verification, Machine Learning Verification, AML Screening Services, Digital Identity Products, KYC Compliance Solutions, Identity Verification Services, Document Authentication, Online Fraud Prevention
Employees
501-1000
Locations
3
Revenueg model
$50M+
/Business pillars
Database Verification, Age Estimation, Facial Recognition, Biometric Authentication, Fraud Intelligence, AI-Driven Identity Verification
/Core offerings
Identity Verification Solutions, Biometric Authentication Services, Anti-Money Laundering Screening, Document Verification Services, Fraud Prevention and Intelligence, Age Validation Services, KYC Compliance Solutions
/Core technologies
AI-Driven Identity Verification, Facial Recognition and Biometric Authentication, Deepfake Detection, Video-First Document Analysis, Liveness Detection
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The score
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GROWTH READINESS
95
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COMMERCIAL MATURITY
90
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TECH DEPTH
85
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BUSINESS MODEL
90
Score rationale
This is how we approached it and reached the numbers
Growth readiness
US is the largest revenue market. Offices in Tallinn, Tartu, New York, and São Paulo. Covers 230+ countries and 48 languages. Latin America volumes grew 2.5x in 2024. Q1 2025 customer base up 71% year-over-year. Not 100 because the company still operates from a relatively small number of physical locations compared to its global reach.
Commercial maturity
Revenue doubled to approximately $100M in 2025. Profitable growth. Verification volumes tripled over the past year. Customers include Western Union, Instacart, Uber, Bumble. 75% year-over-year revenue growth in Q4 2024. Not 100 because the company has not raised new capital since 2022, which could indicate either strong cash position or deferred growth investment.
Tech depth
AI-powered video-first identity verification analyzing 1,000+ data points per session. Proprietary facial recognition, biometric authentication, and deepfake detection. iBeta Level 2 liveness detection compliance. Supports 12,000+ document types. Not 100 because the core technology is applied AI and computer vision rather than foundational research or novel hardware.
Business model
B2B SaaS delivered via API with usage-based pricing. High-volume, recurring revenue from regulated industries where switching costs are significant. Clear product expansion from IDV into authentication, AML screening, and fraud intelligence. Strong retention dynamics driven by compliance requirements. Not 100 because competition from Onfido, Jumio, and others creates ongoing pricing pressure.
Why they made the list?
Veriff is the identity verification infrastructure that hundreds of millions of people interact with without knowing it. Founded in Tallinn in 2015, the company has built an AI-native platform that verifies identities across 230+ countries, powers fraud prevention for companies like Western Union, Uber, and Instacart, and doubled revenue to approximately $100M in 2025 while reaching profitability. That revenue trajectory from an Estonian company competing directly against well-funded US incumbents is the point. Veriff is not a regional player that happens to have international customers. The US is already its largest market by revenue, and Latin America is growing at 2.5x year-over-year. The company's video-first approach, analyzing over 1,000 data points per verification session, has proven more accurate than the photograph-based methods used by legacy competitors. As deepfake sophistication increases and every online service needs to verify who is on the other end, Veriff sits at the infrastructure layer of digital trust. It is the kind of Baltic complex-tech company that the directory exists to make visible: real product, real revenue, real global scale, built from Tallinn.
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Funding
Funding stage
Series C
Last funding year
2022
Funding
$200,000,000
/Key investors
Tiger Global Management, Alkeon Capital Management, IVP, Accel, Mosaic Ventures, Y Combinator, Change Ventures, NordicNinja, SV Angel
Note: This page was generated partially with AI and reviewed by a human. Errors may occur. We don't take responsibility for the startup’s functionality, ethics, or business practices, and features may change after our last update. This information is provided for educational purposes only; how each startups is operated remains the sole responsibility of its provider.
Information on this page is accurate as of last edit date:
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