Persona Revenue, Valuation, Funding & Investors

Persona is valued at $2B as of April 2025, a 62.5x multiple on its last reported $32M revenue.

Last Persona valuation

$2B

Series D · Apr 2025

Last Persona funding round

$200M

Series D · Apr 2025

Persona revenue

$32M

Series D · Apr 2025

Key investors in Persona

  • Coatue
  • Index Ventures
  • Founders Fund
  • First Round Capital
  • Meritech Capital Partners
  • Bond

Persona Overview

About Persona

Persona is a San Francisco-headquartered identity verification platform serving fintech, gaming, and sharing economy companies worldwide. Its API suite automates KYC, AML checks, age verification, and biometric authentication across 200 countries, supporting documents from 190 nations and 2,400 government-issued IDs. Customizable workflows integrate with Stripe, Shopify, and Okta, handling fraud detection via device intelligence and liveness detection. Persona processes millions of verifications monthly for clients like Robinhood and Airbnb.


Founded

2018

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based, Subscription

Revenue

$32M (Apr 2025)

Valuation

$2B (Apr 2025)

Persona Valuation

Persona is currently valued at $2B, based on its Series D in April 2025.

The $200M round was led by Founders Fund and Ribbit Capital, with participation from Index Ventures, Pathlight Ventures, First Round Capital, Coatue, Chemistry and 2 other investors.

Persona's valuation has grown 1.3x from $1.5B at its Series C in September 2021 to $2B in April 2025, across 2 priced rounds.

Persona valuation by funding round

Revenue multiple
Persona valuation by funding round
DateStageValuationRevenue Multiple
Apr 2025Series D$2B62.5x
Sep 2021Series C$1.5B46.9x

Persona Revenue

Persona's latest recorded revenue is $32M, as of its Series D in April 2025. At a $2B valuation, that implies a 62.5x revenue multiple.

Revenue moved from $32M in September 2021 to $32M in April 2025, while the revenue multiple moved from 46.9x to 62.5x.

Persona revenue by funding round

Persona revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Apr 2025$32M$2B62.5xSeries D
Sep 2021$32M$1.5B46.9xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Persona Funding History

Persona has raised a total of $418M across 4 funding rounds.

Persona's first fundraising round was a $18M Series A in January 2020. The most recent completed round was a $200M Series D in April 2025.

Persona funding rounds

Persona funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2025Series DFounders Fund (lead); Ribbit Capital (lead); Index Ventures; Pathlight Ventures; First Round Capital; Coatue; Chemistry; Bond; Meritech Capital Partners$200M$2BPersona is a San Francisco-based verified identity platform that provides businesses with configurable, privacy-first tools to collect, verify, manage, and make decisions about individuals' and businesses' identities. It supports verification across 200+ countries and 20 languages, serving sectors like FinTech, AI, retail, hospitality, and legal services. The platform uses AI to detect document tampering, expired IDs, device signals, and behavioral patterns such as distraction events or autofill usage, while enhancing age assurance solutions certified by bodies like Germany's KJM and the UK's ACCS. On April 30, 2025, Persona raised $200 million in a Series D funding round co-led by Founders Fund and Ribbit Capital, with participation from BOND, Coatue, First Round Capital, and Index Ventures, achieving a $2 billion post-money valuation. The funding aims to expand capabilities amid rising synthetic fraud, AI deepfakes, and regulatory challenges, building infrastructure to verify both human and AI agents online. CEO Rick Song emphasized identity as the linchpin for trust in an AI-driven world, verifying intent behind actions. Over the past year leading to the round, Persona doubled its customer base and revenue, completing over 300 million verifications in 2024. It ranked #1 across all evaluated use cases in the 2024 Gartner Critical Capabilities report for Identity Verification and highest for Ability to Execute in the inaugural Gartner Magic Quadrant. The company positions itself as a flexible foundation adapting to evolving regulations, fraud, and use cases, offering reusable identities for users while streamlining processes for businesses. Persona's platform differentiates from rigid solutions by providing automation, orchestration, and a verified identity layer for an agentic AI era, where challenges extend beyond bot detection to authenticating actors and their intents.
Sep 2021Series CFounders Fund (lead); Index Ventures; Coatue; Bond; Meritech Capital Partners$150M$1.5BPersona is a San Francisco-based trusted identity infrastructure company founded in 2018 that provides businesses with tools to securely collect, verify, manage, and make decisions about customer identities, supporting use cases in fintech, retail, marketplaces, real estate, HR, edtech, and more. Its platform includes automation and orchestration features like the Workflows tool, and it operates in over 195 countries with customers such as Square, Brex, DoorDash, and Coursera. On September 15, 2021, Persona closed a $150 million Series C funding round led by Founders Fund, with participation from Meritech Capital Partners, BOND, Index Ventures, and Coatue Management. This brought total funding raised to $217.5 million and achieved a post-money valuation of $1.5 billion, making it a unicorn less than six months after a $50 million Series B. The company reported strong traction leading into the round, including 20x revenue growth and over 5x customer base expansion in the prior 12 months, alongside product launches like Workflows and recognition as one of Fortune's 100 best companies to work for. Persona serves fraud detection, compliance, and onboarding needs across sectors like financial services, food delivery, and healthcare. Proceeds from the Series C were allocated to team expansion, enhancing identity infrastructure offerings, and pursuing a vision of a ubiquitous trusted identity layer for the internet. CEO Rick Song and Founders Fund partner Napoleon Ta highlighted Persona's market leadership potential in the growing digital identity space.
May 2021Series BIndex Ventures (lead); Hyphen Capital; Coatue$50M-Persona is a San Francisco-based verified identity platform founded in 2018 that provides identity infrastructure for businesses to automate onboarding, manage compliance, combat fraud, and handle tasks like KYC and KYB, serving clients in fintech, social platforms, travel, and more including OpenAI, Lime, and Heritage Bank. The company raised $50 million in its Series B round in May 2021, led by Index Ventures, with participation from investors including Coatue and Hyphen Capital (per query match), aimed at accelerating growth and expanding global presence. This followed a $17.5 million Series A in January 2020 led by Coatue to expand engineering and product capabilities. The Series B came ahead of Persona's later $150 million Series C in September 2021 led by Founders Fund, which valued the company at $1.5 billion, and a $200 million Series D in April 2025 co-led by Founders Fund and Ribbit Capital (with Index Ventures, Coatue, and others participating), reaching a $2 billion post-money valuation to scale operations, invest in AI-driven identity solutions, workforce security, and international expansion. Total funding across rounds reached approximately $418 million by 2025. Persona positions itself as a leader in identity verification, emphasizing reusable identities, compliance with regulations, and adaptation to AI agents and growing tech demands, with rapid customer base growth noted in later rounds.
Jan 2020Series ACoatue (lead); First Round Capital$18M-Persona is an identity verification startup founded in 2015 by Rick Song and Charles Yeh, providing a customizable platform to securely verify individuals using government-issued IDs, biometrics, and AI for online transactions. The platform integrates quickly via API, prioritizes user experience, and minimizes data shared to reduce breach risks, serving clients like Petal, Rippling, Brex, Postmates, and others. Persona raised $17.5 million in its Series A round on January 28, 2020, led by Coatue with participation from First Round Capital and angels including Plaid co-founders, Dylan Field, Scott Belsky, and Tony Xu. The funding supports expanding the engineering team, enhancing product capabilities, and growing operations to address rising identity fraud and regulatory demands amid data breaches like the Capital One incident.

Who has invested in Persona?

10 investors have backed Persona across its funding rounds, including Coatue, Index Ventures, Founders Fund, First Round Capital, Meritech Capital Partners and Bond.

Lead investors include Founders Fund, Ribbit Capital, Index Ventures and Coatue.


Persona Investors

Investors in Persona by funding rounds participated
InvestorHQRoundsRoleFirst check
CoatueUnited StatesNew York City, NY4LeadJan 2020
Index VenturesUnited KingdomLondon3LeadMay 2021
First Round CapitalUnited StatesPhiladelphia, PA2ParticipantJan 2020
Founders FundUnited StatesSan Francisco, CA2LeadSep 2021
BondUnited StatesSan Francisco, CA2ParticipantSep 2021
Meritech Capital PartnersUnited StatesSan Francisco, CA2ParticipantSep 2021
Pathlight VenturesUnited StatesNew York City, NY1ParticipantApr 2025
Hyphen CapitalUnited StatesSan Francisco, CA1ParticipantMay 2021

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Persona Competitors

Persona competitors include listed companies like Haizhi and Affle 3i, and private ones like Feedzai, Watershed, Quantexa and Xiaoice.

Public and private companies comparable to Persona
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
FeedzaiPortugalCoimbraPrivate--$2B-
WatershedUnited StatesSan Francisco, CAPrivate--$1.8B-
QuantexaUnited KingdomLondonPrivate$100M-$2.6B26.0x
XiaoiceChinaBeijingPrivate$15M-$2B-
HaizhiChinaChinaPublicly listed$93M($30M)$2.1B16.3x
Affle 3iIndiaIndiaPublicly listed$282M$67M$2.3B6.7x

Persona Public Comps

Persona is still privately-owned, but its public comps include Haizhi, Ncino, Affle 3i, C3.ai, Wenge AI, TRS Information Technology, PCITECH, Fractal Analytics, Appier Group and Rackspace.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Haizhi$93M($30M)21.5x16.3x(67.1x)(440.4x)
Ncino$595M$65M4.3x4.0x39.0x15.8x
Affle 3i$282M$67M7.4x6.7x31.3x29.5x
C3.ai$250M($484M)4.3x4.5x(2.2x)(6.2x)
Wenge AI$60M($20M)27.6x-(82.7x)-
TRS Information Technology$76M($20M)19.3x19.7x(73.5x)478.8x
PCITECH$1.5B$53M0.8x0.9x24.1x-
Fractal Analytics$344M$50M3.7x3.4x25.8x21.0x

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Common questions about Persona

When was Persona founded?Persona was founded in 2018.
Where is Persona headquartered?Persona is headquartered in San Francisco, CA, United States.
Is Persona publicly listed?No, Persona is a private, VC-backed company.
What is Persona's valuation?Persona was last valued at $2B in its Series D in April 2025.
How much funding has Persona raised?Persona has raised $418M across 4 funding rounds.
What was Persona's last funding round?Persona's last funding round was a $200M Series D in April 2025, led by Founders Fund and Ribbit Capital.
Who are Persona's investors?Persona's investors include Coatue, Index Ventures, First Round Capital, Founders Fund, Bond, Meritech Capital Partners, Pathlight Ventures, Hyphen Capital, Ribbit Capital and Chemistry.
What is Persona's revenue?Persona's latest recorded revenue is $32M (April 2025).
What is Persona's revenue multiple?Persona's latest valuation implies a 62.5x revenue multiple ($2B valuation on $32M of revenue).
Which companies are comparable to Persona?Companies comparable to Persona include Feedzai, Watershed, Quantexa, Xiaoice, Haizhi and Affle 3i.

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