Authologic, a Warsaw-based digital identity verification platform, has raised $8.2 million in its Series A funding to enhance the onboarding process for companies. Y Combinator, one of the lead investors in the round, shared the news on its Linkedin page.
About Authologic
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Authologic, founded in 2020 by Jarek Sygitowicz, Krzysztof Klimczak, and Marek Rogozinski, offers identity verification solutions through online video, data, and digital IDs.
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The company aims to simplify and secure online identity verification by integrating e-ID technologies, biometric checks, and Open Banking data into a flexible platform.
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Authologic's unified e-ID platform aggregates hundreds of systems, bridging the gap between legacy systems and digital identity, and easing the transition towards digital IDs.
“Our platform is designed to help firms counteract the increase in AI-driven fraud, offering them a seamless, secure, and automated solution that stays ahead of emerging fraud tactics. We are excited to have the support of our investors as we expand our reach and continue to innovate in the digital identity space," Krzysztof Klimczak, CEO and co-founder of Authologic, commented.
Investment details
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OpenOcean led the round, with participation from YCombinator, Peak Capital, and SMOK VC, a Polish-US fund investing in top CEE entrepreneurs.
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In 2021, the company joined Y Combinator's startup accelerator program, where it received coaching, resources, and cash to help it build its business.
"We are proud to back a team that not only meets the challenges of today but also anticipates the needs of tomorrow, driving the future of secure, automated identity verification,” Nicolas Dessaigne, Group Partner at YCombinator, remarked.
With offices in Warsaw, London, and San Francisco, Authologic plans to iuse the Series A funds in order to expand its international offerings to include more notable customers like Santander Leasing, LV Bet, and eToro.
