13 November 2019, India:
Identification verification firm SheerID has raised $64 million in equity funding. The funding round was led by CVC Growth Partners (“CVC Growth”).
Jason Glass (Senior Managing Director at CVC Growth Partners) and Doug Behrman (Director at CVC Growth Partners) will join SheerID’s board of directors.
The company will use the fresh capital to expand it’s platform.
Jake Weatherly, CEO of SheerID, said, “Our exponential growth is driven by major shifts in personalization, privacy, and performance marketing. Marketers are struggling to capture the attention of consumers who want more control over their personal data and less uninvited marketing from brands.”
Jake Weatherly, added, “Our platform allows brands to create offers that honor and recognize an entire consumer tribe, increasing trust and word-of-mouth, and decreasing customer acquisition costs.”
Cheri Davies, Senior Director of Acquisition Marketing for Comcast, said, “Gen Z is the future of streaming media. We knew our growth potential with this audience was vast and our personalized offer to students has taken off. Partnering with SheerID has given us a powerful new way to capture and retain our ideal customer segment.”
Lauryn Nwankpa, Head of Social Impact for Headspace, said, “The most effective marketing does more than convert an audience, it provides a service they value. With SheerID, we can create unique offers for students and teachers that support them and move them to spread the word, which benefits the entire educational community and our business. Our identity marketing campaigns generate a powerful ripple effect that’s hard to match.”
Jason Glass, Senior Managing Director at CVC Growth Partners, said, “We are incredibly excited to partner with the SheerID team in their next phase of growth,. As part of our long-standing efforts in fraud prevention and commerce enablement software, we identified SheerID as the industry leader in identity marketing and identity attribute verification.”
Doug Behrman, Director at CVC Growth Partners, said, “SheerID’s track record and growth has been very impressive, and the company stands to benefit from powerful secular trends across privacy regulation, personalization, and eCommerce. We are proud to partner with a team that provides meaningful value not only to their customers, but to groups like students, first responders, and military veterans.”
(Image – SheerID)