The company’s valuation has more than doubled since its last funding round in August 2021. Here are the top-line bullets you need to know.
Unico, a facial biometric tech provider, has raised $100M in a Series D round that drew participation from GS Growth, General Atlantic, and SoftBank Group.
How’s the company performing?
- Brazil-based Unico provides identity authentication, digital admission, and electronic signature solutions.
- Its solutions are used by over 400 clients, including Magazine Luiza, C6Bank, Pernambucanas, B2W, and Banco Original.
- It carries out 25M identity authentication transactions every month.
- In 2021, Unico acquired ViaNuvem, CredDefense, and SkillHub in order to enter the auto, logistics, and corporate education industries.
- Its revenue and workforce grew by 180% and 230%, respectively, in 2021.
Source: Unico
Why does the market matter?
- The global digital identity solutions market is expected to reach a value of $49.5B by 2026, growing at a CAGR of 16.2%, according to Markets and Markets.
- The growing prevalence of cyber fraud and data breaches as well as mounting regulatory pressure have contributed to the market’s growth.
- The widespread digitization of banking services has increased the discussion surrounding digital identity services. For example, in the UK, the institution of PSD2 gave way to new legal requirements related to customer authentication, which has led banks, card issuers, and other payment service providers to turn to customer authentication solutions.
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