CertifID Company Profile

Background

Mission and Vision

CertifID is dedicated to creating a world without wire fraud, focusing on safeguarding real estate transactions through advanced software solutions, insurance, and recovery services. The company's mission is to stop wire fraud and keep money out of the hands of criminals. Its vision is to eliminate wire fraud entirely, ensuring secure financial transactions for all stakeholders.

Primary Area of Focus and Industry Significance

Founded in 2017, CertifID specializes in wire fraud protection within the real estate industry. The company offers a comprehensive suite of services, including identity verification, direct insurance coverage, and fraud recovery, to protect businesses and consumers from the escalating threat of wire fraud. CertifID has been recognized for its rapid growth and impact, ranking No. 193 on the 2023 Inc. 5000 list and No. 11 on the 2023 Inc. 5000 Regionals Southwest list.

Key Strategic Focus

Core Objectives

CertifID aims to provide comprehensive solutions to prevent wire fraud in real estate transactions, ensuring the security of financial transfers and protecting all parties involved.

Specific Areas of Specialization

Identity Verification: Utilizing advanced technologies to confirm the identities of individuals and entities involved in transactions.

Transaction Monitoring: Employing AI-powered detection systems to monitor and analyze transactions for potential fraud indicators.

Secure Payments: Offering secure payment solutions to facilitate safe financial transfers.

Fraud Recovery Services: Providing rapid response services to recover funds in the event of fraud incidents.

Key Technologies Utilized

CertifID leverages a combination of digital device verification, multi-factor authentication, and knowledge-based authentication technologies to analyze over 150 markers of fraud in minutes. The platform also employs machine learning algorithms to validate mortgage payoffs and monitor transactions for suspicious activities.

Primary Markets Targeted

The company's services are primarily targeted at the real estate sector, including title companies, law firms, lenders, real estate agents, home buyers, and sellers. CertifID's solutions are designed to address the specific challenges and risks associated with wire fraud in real estate transactions.

Financials and Funding

Funding History

Since its inception, CertifID has raised a total of $83.5 million across multiple funding rounds:

Series A: $12.5 million in May 2022, led by Arthur Ventures.

Series B: $20 million in September 2023, also led by Arthur Ventures.

Series C: $47.5 million in July 2025, led by Centana Growth Partners, with continued support from Arthur Ventures.

Utilization of Capital

The funds raised are intended to expand CertifID's capabilities in identity verification, transaction monitoring, and secure payments. The company plans to invest in human expertise, grow its team, and accelerate the rollout of new security features to stay ahead of emerging fraud threats.

Pipeline Development

CertifID has developed several key products to enhance wire fraud protection:

PayoffProtect: Launched to mitigate mortgage payoff fraud by verifying the authenticity of payoff instructions.

CertifID Match: Introduced in May 2024, this identity verification solution combats seller impersonation fraud by evaluating over 150 fraud markers.

These products are in the market and actively contribute to the company's mission of preventing wire fraud in real estate transactions.

Technological Platform and Innovation

Proprietary Technologies

CertifID's platform utilizes proprietary technologies for identity verification, transaction monitoring, and secure payments, integrating advanced security measures to protect against wire fraud.

Significant Scientific Methods

The company employs machine learning algorithms to validate mortgage payoffs and monitor transactions for suspicious activities, enhancing the detection and prevention of fraud.

Leadership Team

Tyler Adams: Co-founder and CEO. With a decade of leadership experience in technology businesses, Tyler has led new product development for companies like Mercedes-Benz and Aflac.

Thomas Cronkright II: Co-founder and Executive Chairman. After experiencing wire fraud firsthand, Tom co-founded CertifID to prevent similar incidents in the real estate industry.

Christen Burke: SVP of Revenue. Christen leads revenue operations, focusing on driving growth and customer success.

Taminy Fernandes: Director of People & Culture. Taminy oversees human resources, fostering a positive and productive company culture.

Greg Slowiak: SVP of Technology. Greg leads the technology team, ensuring the development and implementation of secure and innovative solutions.

Ben Warren: CFO. Ben manages financial operations, supporting the company's growth and strategic initiatives.

Competitor Profile

Market Insights and Dynamics

The wire fraud protection market, particularly within the real estate sector, is experiencing significant growth due to increasing incidents of fraud and the need for secure financial transactions. Companies like Riskified, Prove, and NoFraud are notable competitors in this space.

Competitor Analysis

Riskified: Specializes in e-commerce fraud prevention, offering solutions to identify and prevent fraudulent transactions.

Prove: Focuses on identity verification and authentication, providing services to secure digital transactions.

NoFraud: Offers fraud prevention solutions for e-commerce, aiming to reduce chargebacks and fraudulent activities.

Strategic Collaborations and Partnerships

CertifID has established partnerships with over 100 banks and credit unions across the United States, enhancing secure transfers and integrating its security solutions into existing financial workflows.

Operational Insights

CertifID's comprehensive approach, combining software solutions, insurance, and recovery services, differentiates it from competitors by offering a holistic solution to wire fraud prevention in real estate transactions.

Strategic Opportunities and Future Directions

The company plans to expand its platform's identity verification, transaction monitoring, and secure payment capabilities, while deepening its investment in human expertise to stay ahead of emerging fraud threats.