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Proof Valuation, Funding & Investors
Proof is valued at $760M as of March 2021.
Last Proof valuation
$760M
Series D · Mar 2021
Last Proof funding round
$16M
Undisclosed stage · Nov 2025
Cumulative funding Proof raised
$229M
across 7 funding rounds
Key investors in Proof
Polaris Partners
Fifth Wall
Ludlow Ventures
Second Century Ventures
Camber Creek
Chang Corporation
About Proof
Proof is a digital identity verification platform securing online transactions for businesses. San Francisco-based, it employs biometric and document checks to confirm user identities in real time, protecting e-commerce and fintech clients processing billions in annual volume against fraud and compliance risks.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$760M (Mar 2021)
Proof Valuation
Proof is currently valued at $760M, based on its Series D in March 2021.
The $130M round was led by Canapi Ventures, with participation from Camber Creek, TrueBridge Capital Partners, Second Century Ventures, Ludlow Ventures, Fifth Wall and 3 other investors.
Proof valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Series D | $760M |
Proof Funding History
Proof has raised a total of $229M across 7 funding rounds.
Proof's first fundraising round was a $1M seed round in May 2015. The most recent completed round was a $16M undisclosed-stage round in November 2025.
Proof funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2025 | Undisclosed stage | - | $16M | - | - |
| Mar 2021 | Series D | Canapi Ventures (lead); Camber Creek; TrueBridge Capital Partners; Second Century Ventures; Ludlow Ventures; Fifth Wall; CapitalG; Citi Ventures; Wells Fargo | $130M | $760M | Proof (f.k.a. Notarize) is an identity verification platform that raised $130 million in its Series D round in March 2021 led by Canapi Ventures, with participation from investors including Camber Creek, CapitalG, Citi Ventures, Fifth Wall, Ludlow Ventures, Second Century Ventures, TrueBridge Capital Partners, and Wells Fargo. The funds were intended to support international expansion and platform enhancements. Earlier rounds included a $2.4M seed in February 2016 and $8M Series A in June 2016. Proof provides digital identity verification and fraud prevention solutions, originally focused on remote online notarization. The company has continued raising capital post-2021, including additional rounds in 2025 totaling over $15M and a total funding of approximately $228M as of late 2025. |
| Mar 2020 | Series C | Camber Creek (lead); Polaris Partners (lead); Parker89 | $35M | - | Search results contain information about two distinct companies: Proofpoint (a cybersecurity company with $1,050M revenue in 2020) and Proof (a legal services technology platform). The query seeks financial details for Proof's Series C funding round led by Camber Creek and Polaris Partners in March 2020, which raised $35 million. |
| Aug 2019 | Series B | Anywhere (lead); Lennar (lead); Polaris Partners (lead); Jon Oringer; Second Century Ventures | $37M | - | Proof is a company specializing in identity-centric security, providing a platform to secure online interactions and transactions, with applications in real estate, construction technology, and digital security. It has raised a total of approximately $213.3 million across multiple rounds as of early 2025. The Series B round on August 27, 2019, raised $36.9 million led by Anywhere (also listed as Realogy Holdings), Lennar Corporation, and Polaris Partners, aimed at accelerating market expansion and product development. This followed a Seed round of $2.4M in February 2016 and Series A of $8M in June 2016. Subsequent rounds included Series C of $35M in March 2020 led by Camber Creek and Polaris Partners for technology enhancement and market expansion, Series D of $130M in March 2021 led by Canapi Ventures to scale operations, and a venture round in February 2025 led by State Farm Ventures for fraud prevention advancements. Proof has notable investors including those in the Series B and has been backed by 23 investors overall. It has surpassed $150 billion in authorized transactions, indicating strong traction in digital identity verification, particularly in insurance and real estate sectors. |
| Jun 2016 | Series A | Jeff Seibert; Chang Corporation; Fifth Wall; Wayne Chang; Flight Ventures | $8M | - | Proof, an identity verification platform, raised $8 million in its Series A funding round in June 2016 to scale the platform and expand the team amid growing demand. This followed a $2.4 million seed round in February 2016 aimed at developing the initial product and validating market need for identity verification solutions. Proof continued fundraising, including a Series B of $36.9 million in August 2019 led by Anywhere, Lennar Corporation, and Polaris Partners to enhance features and enter new markets. |
| Feb 2016 | Seed | Jeff Seibert; Chang Corporation; Polaris Partners; Ludlow Ventures; Wayne Chang | $2M | - | Proof raised $2.4 million in a seed round in February 2016 from investors including Chang Corporation, Jeff Seibert, Ludlow Ventures, and Polaris Partners to develop its initial product and validate market need for identity verification solutions. The company followed with a Series A of $8 million in June 2016 to scale the platform and expand the team. |
| May 2015 | Seed | - | $1M | - | - |
Who has invested in Proof?
18 investors have backed Proof across its funding rounds, including Polaris Partners, Fifth Wall, Ludlow Ventures, Second Century Ventures, Camber Creek and Chang Corporation.
Lead investors include Canapi Ventures, Camber Creek, Polaris Partners, Anywhere and Lennar.
Proof Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Feb 2016 | ||
| 2 | Lead | Mar 2020 | ||
| 2 | Participant | Feb 2016 | ||
| 2 | Participant | Feb 2016 | ||
| 2 | Participant | Aug 2019 | ||
| 2 | Participant | Feb 2016 | ||
| 2 | Participant | Jun 2016 | ||
| 2 | Participant | Feb 2016 | ||
| 1 | Participant | Mar 2020 | ||
| 1 | Participant | Aug 2019 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Lead | Aug 2019 | ||
This data is available for Pro users. Sign up to see all 18 Proof investors. Start Free Trial | ||||
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Start Free TrialProof Competitors
Proof competitors include listed companies like Mitek Systems and HCR Co, and private ones like Codat, Elliptic, Sardine and Tresata.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $180M | $37M | $781M | 3.7x | ||
| Private | - | - | $825M | - | ||
| Private | - | - | $670M | - | ||
| Private | - | - | $660M | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $75M | ($3M) | $354M | - |
Proof Public Comps
Proof is still privately-owned, but its public comps include CANCOM, Mitek Systems, Asiainfo Security, Riskified, Rapid7, Yubico, Feitian Technologies, OneSpan, DBAPPSecurity and Aura.com.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2B | $118M | 0.4x | 0.4x | 6.3x | 5.7x | |||
| $180M | $37M | 4.1x | 3.7x | 19.9x | 11.2x | |||
| $1.2B | ($11M) | 1.2x | 1.1x | (126.2x) | 339.7x | |||
| $345M | ($31M) | 1.8x | 1.6x | (20.3x) | 19.0x | |||
| $860M | $63M | 1.3x | 1.3x | 17.4x | 6.8x | |||
| $226M | $19M | 3.3x | 3.2x | 39.7x | 25.6x | |||
| $104M | ($4K) | 6.2x | - | (168378.6x) | - | |||
| $243M | $57M | 2.6x | 2.5x | 11.0x | 8.9x | |||
This data is available for Pro users. Sign up to see all Proof competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Proof
| When was Proof founded? | Proof was founded in 2015. |
| Where is Proof headquartered? | Proof is headquartered in Boston, MA, United States. |
| Is Proof publicly listed? | No, Proof is a private, VC-backed company. |
| What is Proof's valuation? | Proof was last valued at $760M in its Series D in March 2021. |
| How much funding has Proof raised? | Proof has raised $229M across 7 funding rounds. |
| What was Proof's last funding round? | Proof's last funding round was a $16M undisclosed-stage round in November 2025. |
| Who are Proof's investors? | Proof's investors include Polaris Partners, Camber Creek, Jeff Seibert, Chang Corporation, Second Century Ventures, Ludlow Ventures, Fifth Wall, Wayne Chang, Parker89, Jon Oringer and 8 others. |
| Which companies are comparable to Proof? | Companies comparable to Proof include Mitek Systems, Codat, Elliptic, Sardine, Tresata and HCR Co. |
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