HyperVerge, Inc. Market Research Report

Company Overview

Name

HyperVerge, Inc.

Mission

To build an independent, sustainable organization that makes a positive impact on people's lives. The company aims to inspire over 100 leaders to create conscious, contributing, and lasting organizations worldwide. HyperVerge's mission is to aid businesses in preventing fraud and removing verification barriers, enabling universal access to digital services regardless of age, location, or technical expertise.

Founded

The company originated as the Computer Vision Group at IIT Madras between 2009-2014. HyperVerge was officially founded during this period.

Headquarters

• Palo Alto, USA: 101, University Ave, Suite 245 Palo Alto, CA

• Bangalore, India: No:12, 17th Cross Rd, Sector 7, HSR Layout Bengaluru, KA

• Coimbatore, India: 3rd floor, Sanhasa Square, Bharathi Park 3rd Cross, SAHS, Post, Coimbatore, Tamil Nadu - 641043

• Ho Chi Minh City, Vietnam: Room 3.29, Toong Office, Itaxa building, 126 Nguyen Thi Minh Khai str, Ward Vo Thi Sau, District 3, Ho Chi Minh City, Vietnam

Key People

• CEO: Kedar Kulkarni

• Co-Founder: Kishore Natarajan

• CTO: Vignesh Krishna

• Co-Founder: Praveen Kumar

• Co-Founder: Saivenkatesh Kumar

• Advisory Board:

• Jim Debello, Ex CEO, Mitex Systems

• Murali Narayanan, Ex Sr. Director, Microsoft

• Kalidas Ghose, Ex CEO, Citi

• Dr. Ray O Johnson, Ex CTO, Lockheed Martin

Number of Employees

No information is available.

Revenue

No information is available.

Company Specialization

HyperVerge is known for its cutting-edge AI solutions in identity verification, anti-money laundering (AML) compliance, fraud detection, and customer onboarding.

Products

HyperVerge ONE

A comprehensive platform offering end-to-end control while orchestrating user workflows.

• No-code Workflow Builder: Allows users to design workflows without coding expertise.

• Analytics Dashboard: Provides insights and metrics for performance tracking.

• Identity Verification: Onboards users instantly across the globe with high accuracy AI models.

• OCR Software: Extracts data accurately from all global document formats.

• Anti-Money Laundering (AML): Simplifies AML compliance and protects businesses.

• Face Authentication: Enhances customer experience while preventing fraud.

• Know Your Business (KYB): Instantly verifies businesses and reduces risk of exposing the company to fraud.

Key Features of Products

Identity Verification

• High accuracy AI models for real-time user onboarding.

OCR Software

• Accurate data extraction from global document formats.

Anti-Money Laundering

• Simplified compliance to protect businesses.

Face Authentication

• Enhanced customer experience and fraud prevention.

Know Your Business (KYB)

• Instant business verification to reduce fraud risk.

Industries Served

• Financial Services: Prevents fraud while increasing revenue and customer conversion.

• Education: Enables stress-free e-learning experiences.

• Logistics and eCommerce: Ensures quick, safe, and trustworthy onboarding.

• Gaming: Facilitates responsible and fraud-free gaming.

• Remittance: Provides comprehensive KYC and AML solutions to reduce financial risk and enhance trust.

• Crypto: Meets crypto compliance needs and enforces seamless verification.

• Marketplaces: Streamlines registration, ensures compliance, and secures operations.

Use Cases

• Age Verification: Instantly confirms a customer's legal age.

• Deepfake Detection: Detects and combats deepfake fraud.

• Document Verification: Verifies government ID documents in real-time.

• Fraud Detection: Proactively catches fraudsters using AI-powered prevention methods.

• Address Verification: Onboards users globally using Proof of Address (PoA).

Recent Developments

New Products Launched

• HyperVerge ONE: A platform designed for comprehensive customer onboarding.

New Features Added

• No-code Workflow Builder: Enables users to create workflows without any coding.

• Enhanced Analytics Dashboard: Offers better insights and metrics for tracking performance.

New Partnerships

No information is available.

Achievements

• Support Metrics:

• CSAT Score: 4.46 out of 5

• NPS: 72%

• Technology:

• In-house AI models with a 95% pass rate.

• NIST FRVT leaderboard rankings: 7th globally in 1:1 matching and 5th in 1:N matching.

• iBeta certification for passive single image liveness.

• Awards:

• ZSI Regtech Accelerator Winner.

• Best in Class RegTech Solution - Global Fintech Fest 2022.

• G2 rating for HyperVerge: 4.6

Vision Statement

To build a long-standing bootstrapped company that contributes positively to the world and inspires at least 100 leaders to create mindful and giving organizations.

Conclusion

HyperVerge stands as a prominent player in the AI-driven verification and fraud detection market, continually innovating to meet global compliance standards and enhance customer experience.