Incode
“Can a privacy-first, AI-native identity verification platform consolidate the fragmented IDV market and become the trust layer for every human — and AI agent — interaction?”
Founded2015
HQSan Francisco, CA, USA
FoundersRicardo Amper
Total raised~$257M (as of 2021)
Latest roundSeries B, December 2021
Valuation$1.25B (2021)
IndustryInfrastructure / Identity
The story
Founded 2015 as a photo-sharing app, Incode pivoted to become an AI-powered identity verification platform, launching biometric authentication in 2017 and passive liveness detection in 2019. After hitting unicorn status in 2021 on the strength of banking and neobank adoption in the Americas, the company has consolidated the IDV market via acquisitions — MetaMap (2024), AuthenticID (2025), and Identiq (2026) — while doubling down on a privacy-first, on-device architecture to differentiate against Onfido, Persona, Jumio, and Socure.
Product timeline
2015
Founded in San Francisco by Ricardo Amper· founding
2017
Launched first biometric authentication solution· product
2019
Introduced Liveness Detection; first to pass iBeta Level 1 Passive Liveness· product
2021
Reached unicorn status at $1.25B valuation after $220M Series B· funding
2024
Named a Leader in inaugural Gartner Magic Quadrant for Identity Verification; acquired MetaMap· acquisition
2025
Acquired AuthenticID· acquisition
2026
Acquired Identiq and committed $100M to privacy-first identity infrastructure; launched GovFaceMatch· acquisition
Acquisitions
Identiq2026
Privacy-preserving network for cross-company fraud detection without pooling customer PII, powering Incode's 'collaboration without exposure' network fraud intelligence.
AuthenticID2025
US-based identity verification and fraud prevention platform, adding enterprise document and biometric verification capacity.
MetaMap2024
Latin America-focused identity verification and KYC/KYB platform; Incode's first acquisition, expanding LatAm footprint.
The stack
1 layer disclosed in Incode’s embedded-finance stack
Card network
Accounting gap: none