London-based mobile data and identity intelligence firm TMT ID has secured £30 million, equal to approximately $38 million, in new funding from BGF to advance its mission of strengthening digital trust. Specifically, the company said in a statement on Tuesday that the funding will be used to enhance its current product suite and support its entry into the U.S. market.
Fueled by rising demand for data protection and identity verification services, TMT ID reported an 80 percent increase in revenue for its identity and fraud product suite, reflecting growing corporate urgency to combat fraud. The company added that its tools also help organizations comply with emerging regulations designed to shield young users from harmful or sensitive online content.
TMT ID’s data network spans more than 200 countries and territories and processes over 100 million verification checks per day through partnerships with mobile network operators.
As part of the announcement, David Quantrell will join TMT ID’s board as non-executive chair.
