CertifID Secures $20M in Series B Funding
September 12, 2023
CertifID received $20 million in Series B funding, which was led by Arthur Ventures.
The latest round of funding comes on the heels of strong adoption of CertifId’s wire fraud protection software, insurance and recovery services. In the past year, CertifID launched PayoffProtect; doubled its customer base and forged new enterprise partnerships.
Despite the cyclical nature of the housing market, fraud against real estate transactions has grown exponentially. The FBI reports that the real estate sector experienced a 72% surge in business email compromise from 2020 to 2022.
“CertifID’s mission is to be the frontline defense for consumers and businesses against the growing wave of wire fraud plaguing the real estate industry,” said Tyler Adams, CEO at CertifID. “Since our founding, we have protected billions of dollars from attempted fraud attacks, as well as helped recover over $60 million in stolen funds for victims. This investment will help us continue to safeguard against the intensifying risks of fraud.”
Arthur Ventures also invested in CertifID’s $12.5 million Series A in May 2022.
Patrick Meenan, general partner at Arthur Ventures, added, “CertifID is addressing a growing problem in an industry looking for modern solutions. Despite the challenges posed by a decelerating housing market, CertifID stands out as a technology leader with a mission of utmost importance to the U.S. economy. We are excited to continue our partnership with CertifID and are eager to see them continue their impressive growth."
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