SentiLink plans to use the fresh capital to develop its product suite and further expand its team. Credit:B_A from Pixabay.

Identity verification firm SentiLink has raked in $70m in a Series B funding round, taking its total raised capital to $85m.

Led by David Sacks of Craft Ventures, the financing round was joined by Felicis Ventures, Andreessen Horowitz, and NYCA.

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As part of the round, David Sacks and Victoria Treyger from Felicis will join SentiLink’s board as observers.

Co-founded by Naftali Harris and Max Blumenfeld, SentiLink offers a new kind of identity verification to help financial institutions with synthetic fraud, ID theft, and other emerging fraud vectors.

Its real-time fraud solutions detect fake and stolen identities for new account applications.

The company, which works with more than 100 financial institutions, aims to solve identity verification in the US.

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SentiLink plans to use the fresh capital to develop its product suite and further expand its team.

SentiLink co-founder and CEO Naftali Harris said: “SentiLink is reinventing identity verification in the US. Despite businesses spending large amounts of time and money trying to figure out if people are who they say they are, identity fraud is rampant and real customers suffer from false positives and unnecessary friction.

“Our new approach is grounded in our deep understanding of fraud and identity and is changing how identity verification works in the US.”

Commenting on the development, Sacks added: “SentiLink’s growth trajectory is one of the fastest I’ve ever seen and their traction with companies from new startups to major US banks is impressive.

“We’re excited to lead SentiLink’s Series B and to support them as they transform how identity verification works in the US.”