New funding underscores urgent demand for the company’s highly customizable and automated identity solution
Persona, the trusted identity infrastructure company built to manage customer identities from end to end, announced today that it has closed a $150 million Series C funding round—less than six months after its $50 million Series B round. This latest round is led by Founders Fund, with participation from Meritech Capital Partners, BOND, and existing investors Index Ventures and Coatue Management. The new capital brings the company’s total amount raised to $217.5 million, with a valuation of $1.5 billion.
“Identity is at the core of every business, whether you’re a bank verifying an account holder, a marketplace corroborating sellers, or a company onboarding new employees,” said Rick Song, CEO, Persona. “But identity isn’t a one-off transaction — it’s a relationship. With Persona’s identity infrastructure, businesses can go beyond verifications and build trust throughout the customer lifecycle by offering a safer, faster, and more tailored experience for each individual.”
Persona’s trusted identity infrastructure gives businesses the building blocks they need to securely collect, verify, and manage individual’s identities, along with automation and orchestration tools to streamline the entire process end to end. Its highly flexible and configurable solution enables businesses to tailor identity processes, provide a consistent brand experience, and personalize the user flow based on their risk tolerance, use case, and customer base.
This degree of configurability allows Persona to partner with any type of business, including prominent high-growth companies such as Square, DoorDash, Coursera, Robinhood, Gusto, BlockFi, Sonder, Brex that rely on Persona to meet compliance requirements, fight fraud, and build trust and safety.
This announcement comes on the heels of significant momentum for Persona, marked by revenue and customer growth, product innovation, and industry recognition. In the last year, the company grew revenue 20x and experienced an over 5x increase in its customer base. The company also announced its Workflows tool, a flexible, intuitive, and powerful way to automate identity processes for any use case, and was recognized as one of the 100 best companies to work for by Fortune Magazine.
Read More:Â Grayscale Investments Doubles Its Suite of SEC Reporting Investment Products
The new financing will help drive the next phase in Persona’s growth, as the company expands its team, extends the offering within its identity infrastructure, and furthers its vision of a ubiquitous identity layer that makes the internet safer, more trusted, and more accessible.
“Persona is fast becoming the market leader in the identity space,” said Napoleon Ta, Partner, Founders Fund. “We’re confident that Rick and Charles will fulfill their vision of delivering the trusted identity layer for the entire internet. Founders Fund is thrilled to support Persona in scaling to meet global demand.”
Read More:Â Novo Hires Executive Vice President of Engineering and Chief of Staff
