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- Verituity Secures $18.8 Million in Funding to Accelerate Growth and Innovation
Verituity Secures $18.8 Million in Funding to Accelerate Growth and Innovation
Slice of Finance Team
28 Jun
Key Highlights:
$18.8 million funding round led by Sandbox Industries and Forgepoint Capital.
Chris Zock, Managing Partner and Co-CEO of Sandbox Industries, joins Verituity’s board.
Funding to accelerate growth in banking, insurance, mortgage servicing, and energy.
Enhanced innovation in AI and machine learning for Zero Trust Payout Verification™.
New partnership with Mastercard Move for modernizing disbursements and remittances.
Source (Business Wire)
Notable Quotes
"Verituity orchestrates billions of dollars in verified B2B and B2C payouts by empowering businesses and banks to deliver trusted and intelligent payments on-time to known individuals and businesses."
"Verituity is a perfect example of the types of companies we seek to partner with that provide meaningful innovation to insurers and healthcare companies."
"With Verituity at the intersection of verification, intelligent payments, and trust, the company is well positioned to take full advantage of the rapid digital transformation underway in disbursements."
Our Take:
Verituity's successful $18.8 million funding round marks a significant milestone in the company's growth trajectory. By focusing on enhancing their AI-powered Zero Trust Payout Verification™ platform, Verituity is poised to revolutionize the banking and insurance sectors, offering more secure, verified, and timely payouts. The strategic partnership with Mastercard Move further cements their role as a leader in modernizing payment systems, addressing the industry's need for efficient and cost-effective solutions. The addition of industry experts like Chris Zock to the board signifies strong investor confidence in Verituity's vision and potential for transformative impact across multiple sectors.