AU10TIX, a global cloud-based, machine learning, ID verification and authentication platform, announced today a $60 million strategic minority investment from TPG Tech Adjacencies.
The investment from TPG, which gives AU10TIX a post-money valuation of $260 million, builds on a period of significant momentum for the company.
“AU10TIX has established itself as a leader in global customer onboarding and forensic level identity authentication, and is distinguishing itself through advanced machine learning, talent acquisition, and global expansion through new investments and an unmatched customer base,” said Ron Atzmon, CEO, AU10TIX. “TPG’s backing, alongside Carey’s strong leadership, global vision, and first-mover mentality, will allow us to accelerate growth and fuel the next generation of trusted identity.”
Over the last several months, AU10TIX has worked to expand and grow its platform:
• Carey Kolaja joined AU10TIX as President and Chief Operating Officer. Kolaja has more than 25 years of diverse experience working with Fortune 500 companies and emerging start-ups. Most recently, Kolaja served as the Chief Product Officer at Citi FinTech, where she was instrumental in defining how Citibank develops and launches new customer products and experiences.
• AU10TIX has experienced triple digit growth, fueled by growth in its existing customer base as well as new customer acquisitions. The company’s customer base includes global financial services companies and new economy standouts.
AU10TIX is providing critical infrastructure that enables companies and their customers to operate efficiently and responsibly in today’s digital world. Over the last decade, AU10TIX has become the preferred solution for customer onboarding and KYC ("Know Your Customer") automation. The company’s proprietary technology provides results in less than 8 seconds, allowing companies to onboard faster, prevent fraud, meet compliance mandates, and importantly, establish trust with their customers.
“While we all benefit tremendously from the ability to do more via apps and online services, the need for identity and trust remains paramount,” said Arun Agarwal of TPG. “Today’s digital environment demands an innovative and reliable solution like AU10TIX. The quality, breadth, and speed of its platform are unmatched in the market, and we’re thrilled to partner with Ron, Carey, and the team to support the company in achieving its next level of growth.”
“AU10TIX has a vision for helping create truly secure and seamless transactions for our partners and their customers,” said Carey Kolaja, President and Chief Operating Officer, AU10TIX. “Trust is critical as we become more globally connected and AU10TIX is off to a strong start enabling others to build trust within this new economy. I look forward to having a hand in shaping the future by helping our customers realize trusted growth.”