Companies
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Prove
Cybersecurity
Prove is a New York-based identity verification company using phone number-based signals to help businesses verify customer identities and reduce fraud during account creation and other sensitive transactions.
$731M
+$6.33
158.84%
30 days ago
$3.99
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Prove was founded in 2004, originally under the name Payfone before rebranding, building identity verification technology that leverages phone number-based signals and mobile carrier data to help businesses verify that a person attempting to create an account, log in, or complete a sensitive transaction is genuinely who they claim to be, based on the insight that a person's mobile phone, and the mobile carrier relationship and history associated with that specific phone number, can serve as a strong, difficult-to-fake identity signal, since establishing a mobile phone account and maintaining an ongoing carrier relationship typically already involves some degree of identity verification by the mobile carrier itself. Prove's technology can verify aspects such as how long a given phone number has been associated with a specific mobile account, whether a phone number has recently been ported to a new device or carrier in ways that might indicate fraudulent account takeover activity such as a "SIM swap" attack, and other phone-based signals that help businesses assess the likely legitimacy of a person's claimed identity during account creation, login, and other sensitive transaction moments, without necessarily requiring more burdensome verification steps like document scanning for every transaction, letting businesses balance fraud prevention with a smoother, lower-friction customer experience for lower-risk situations. The company has positioned its phone-based identity signals as a complementary layer to other identity verification methods such as government ID document verification, arguing that phone-based signals can provide valuable, passive verification signal without requiring the customer to take an active verification step for every transaction, improving the customer experience while still meaningfully reducing fraud risk. Prove's customers span banks, telecommunications companies, and other businesses across industries where account takeover fraud and identity verification during customer onboarding represent significant risk and compliance considerations. The company has raised substantial venture funding from investors including Capital One Ventures, MassMutual Ventures, and Centana Growth Partners, reaching a valuation exceeding $1 billion, competing with other identity verification providers including Socure and Persona.
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