OCR Labs Gets Funds for North America and EMEA Growth

In London, digital identify verification specialist OCR Labs has raised $30m in a Series B round of funding, which it will use to open a new office in North America, expand its EMEA team, and hire a Global Chief Revenue Officer.

OCR Labs builds tools that protect users from identity fraud, using advanced image analysis and deep learning technology, allowing the firm to control the entire identity verification flow without human intervention. The company is able to verify users in seconds with just their iD and a smartphone, from anywhere in the world, and says it currently verifies more than 15,000 documents in over 230 countries and principalities.

New funding comes from Equable Capital and adds to OCR Labs' 2021 $15m Series A round, bringing the total raised to date to $46m. CEO John Myers (pictured) says 2021 was 'an incredible year for OCR Labs, with continued validation from customers who have chosen us as their provider for online digital identity verification'. He adds: 'This investment provides us with the capital to continue our growth while bringing a value-added investor on to our board'.

Web site: www.ocrlabs.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.