SheerID, Inc.

SheerID, Inc. , based in the US, specializes in identity verification and audience data solutions that enhance customer engagement through personalized experiences. Founded in 2011 and headquartered in Portland, US, SheerID, Inc. provides identity verification solutions.

The company has successfully raised USD 32. 25 mn in Series C funding as of November 2019, led by CVC Capital Partners and includes Centana Growth Partners and Voyager Capital among its investors. With a total of 10 deals, SheerID is valued at USD 201. 371 mn.

SheerID specializes in customer identity verification and audience data solutions designed to enhance customer engagement through personalized experiences. Their core offering, the Audience Data Platform, allows businesses to instantly verify consumer identities using over 200,000 authoritative data sources. This enables companies to collect first-party data that customers willingly share, facilitating the delivery of protected offers tailored to specific demographics, professions, and psychographic traits. The platform supports diverse use cases, including customer acquisition, loyalty programs, and personalized rewards, catering to a wide client base that includes retailers and service providers across various sectors such as education, military, healthcare, and hospitality.

SheerID's solutions are utilized in geographical markets that extend across North America, Europe, and parts of Asia, enabling businesses to effectively engage and verify audiences globally. SheerID generates revenue through strategic partnerships and subscriptions, providing its identity verification services to a diverse clientele that includes notable brands across multiple industries. The transaction structure primarily involves B2B relationships, where businesses subscribe to SheerID's services to incorporate identity verification into their customer engagement strategies. Clients benefit from tailored pricing plans that align with their specific needs, which may include tiered access to the Audience Data Platform.

The company’s flagship offerings facilitate not only customer acquisition but also enhance loyalty programs, allowing clients to deliver exclusive and protected offers to verified individuals. SheerID's revenue model is underpinned by its commitment to providing value through improved customer insights and experiences, ensuring long-term partnerships with its clients. In November 2019, SheerID, Inc. raised USD 32.

50 mn in Series C venture funding to support its growth initiatives. The funding will facilitate the development of new products and enhancements to their Audience Data Platform. SheerID aims to expand its reach into additional markets in Europe and Asia by the end of 2023, leveraging its recent funding to enhance its service offerings and customer engagement strategies.