SoftBank, General Atlantic Bet Values Incode at $1.25 Billion
- Identify verification, authentication firm raises $220 million
- New valuation represents roughly 10-fold lift over prior mark
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Incode Technologies, a startup that operates an identity verification and authentication platform used by companies including American Express Co. and Citigroup Inc., has been valued at $1.25 billion, a roughly 10-fold step-up over its prior mark.
The San Francisco-based company raised $220 million in a funding round led by General Atlantic and SoftBank’s Latin America-focused fund, Chief Executive Officer and founder Ricardo Amper said in an interview. Other investors include J.P. Morgan, Capital One Ventures, Coinbase Ventures and Silicon Valley CISO Investments, a syndicate of chief information security officers. Existing backers DN Capital, 3L Capital, Dila Capital and Framework Ventures also invested.