PANews reported on October 18 that identity verification solution Prove Identity announced that it has completed a $40 million financing, led by MassMutual Ventures and Capital One Ventures. The valuation of this financing is 10 figures, which will enable the company to break the $1 billion mark (the company did not disclose the specific number). The funds raised will be used to develop more tools for digital payments and commerce and fraud detection. Prove's technology connects the data of mobile phone SIM cards with the functions provided by smartphones (such as facial recognition) to authenticate users.
