IdentityMind Global Closes Oversubscribed Financing Round from Strategic Investors, Venture Capital and Private Equity Firms

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With funding from Lakewood & Company, Mozido, SBT Capital, Cybernaut, and Benhamou Global Ventures, IdentityMind Global closes its financing to bring modern compliance and risk management to Financial Institutions worldwide.

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The company combines a solid core technology with a top notch executive and development team that has proven it can address the challenges faced by merchants and financial institutions.

IdentityMind Global, a Risk Management Platform for e-Commerce and Regulatory Compliance, announced today the closing of its most recent round of financing. The round was led by Lakewood & Company and will support the company’s growth in expanding sales and international operations.

Financial services are growing and evolving at a rapid pace, with a steady transition to online services and a constant development of new applications for e-commerce, money service businesses, international transfers, trading, virtual currencies, and more. The intricacies of this growing system now expose financial institutions to new types of regulatory risks and increased complexity in adequately complying with regulatory guidance. In many cases, banks are forced to compensate for new levels of separation by passing the burden of regulatory and identification requirements on to their customers.

“There’s been an explosion of growth in online financial transactions” said Garrett Gafke, IdentityMind Global CEO and President, “but that growth is abused by criminal organizations, and puts pressure on financial institutions and the overall ecosystem - which, in general, lacks effective methods for managing risk and compliance in the modern context. We’re providing these Institutions with the tools they need to operate legally and effectively in the new financial system.”

By extracting electronic DNA™ (eDNA™) from the details of each transaction, the IdentityMind platform provides comprehensive visibility into all identities and entities involved. This visibility, combined with the proper heuristics and analysis console, gives Financial Institutions an essential framework for successful risk management and compliance.

“IdentityMind is addressing the gap between the old way of dealing with risks and regulations, and the necessary methods to meet new requirements being put forward by regulatory bodies.” Said Greg Corona, Managing Partner at Lakewood & Company. “The company combines a solid core technology with a top notch executive and development team that has proven it can address the challenges faced by merchants and financial institutions.”

This round of financing also includes several strategic partnerships, with investors adopting IdentityMind’s platform to manage their global risk and comply with regulatory guidance for anti-money laundering, terrorist financing, and fraud prevention.

The IdentityMind client base includes a diverse list of banks, money service businesses, mobile commerce, online commerce, and virtual currency businesses across North America, Asia, Europe, and Latin America.

For more information, contact IdentityMind at: pr(at)identitymind, or evangelist(at)identitymind.com.

About Lakewood & Company

Lakewood & Company is a private investment firm that partners with growing companies to provide capital and strategic support. Lakewood focuses on venture capital and growth equity investments in West Coast-based businesses that operate in the technology and healthcare sectors. The Lakewood team is comprised of professionals with decades of operating and investment experience gained from diverse backgrounds in industry, finance, research & development, and advanced technology. Lakewood has office locations in Los Angeles, Atlanta and Silicon Valley.

About Mozido

Mozido’s mobile payments platform includes mobile financial services, loyalty programs, and mobile offers for business and retail. Through its white-label, cloud-based platform MoTEAF, Mozido serves people around the world who choose to manage their money using their mobile phone rather than relying on traditional financial institutions. Mozido’s MoTEAF platform is highly interoperable, works with virtually any wireless carrier or mobile device, and integrates easily with products from other vendors. For more information, visit us at mozido.com. Follow us on Twitter: @Mozido

About SBT

SBT Venture Capital manages a FinTech fund investing in the most promising start-ups of the financial industry worldwide. SBT VC brings together considerable experience in the banking industry, an incredible network of financial services companies and related technology vendors, and one of the biggest banks on the planet as primary partner. SBT VC focuses on early-stage growth companies who already generate revenue, but are in need of capital and the right network to reach scale.

For more information, please visit http://www.sbt-vc.com

About Cybernaut

As one of the pioneering investment funds to come out of China, Cybernaut's focus is on sectors that serve the largest consumer markets, with rapid growing demands. Cybernaut has invested in fintech, health care, and advanced manufacturing. Cybernaut Westlake Partners, a Delaware LLC, is a subsidiary of Cybernaut (China) Investment.

About BGV

Benhamou Global Venture (BGV), is an early-stage venture capital firm with deep Silicon Valley roots, and an exclusive focus on enterprise information technology opportunities in global markets. The BGV team has successfully built a cross-border venture investing model, which it is selectively expanding to other markets and regions globally. The Fund was founded by Eric Benhamou, former chairman and CEO of 3Com, Palm and co-founder of Bridge Communications. Comprised of an experienced partnership team of global operating executives and investors, BGVII will actively engage and support entrepreneurs looking to build the next generation of enterprise companies. With a particular emphasis on cloud based services, security, web-scale infrastructure, mobility and the Internet of Things, the Fund will invest in the compelling opportunities offered as enterprise IT transformation accelerates.

About IdentityMind Global™

IdentityMind Global™ offers an identity-based platform for safer ecommerce. Our on-demand platform provides risk management, anti-fraud, and anti-money laundering services for online merchants, acquiring banks, payment processors, gateways, payment service providers (PSP/ISO/MSP), digital currency exchanges, and financial institutions (banks, money service businesses (MSBs), money transmitters).

Using proprietary eDNA™ technology and an ecosystem of third party data providers, our platform builds sophisticated reputations used to evaluate real-time risk across the payments and e-commerce system.

© 2015 IdentityMind Global. All rights reserved. IdentityMind, IdentityMind Platform, IdentityMind eDNA, IDMPay and the IdentityMind logo are trademarks or registered trademarks of IdentityMind Global, Inc. in the United States and other countries. All other brand, service or product names are trademarks or registered trademarks of their respective companies or owners.

IdentityMind Global™ is privately held.

For more information please refer to our website: http://www.identitymindglobal.com, or reach us at info(at)identitymind(dot)com.

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Geo Coelho
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