SheerID is having a good run. The startup, based in Eugene, Ore., makes software that helps companies verify the identity of certain customer groups, and it just reeled in another $2.9 million to continue growing its service.
The funding, led by Voyager Capital, comes from existing institutional and angel investors and brings total funding to date to $16 million.
SheerID helps more than 160 customers like Costco, Best Buy, and Amazon.com verify the identity of people within specific groups — like veterans, teachers, or college students — so they can receive special offers. For example, it works with Spotify to help verify college student discounts.
The company’s request processing technology acts as a bridge between a client’s buying process and a secure database. Here’s more from the company’s FAQ:
Our clients determine who is eligible for their promotions. The SheerID platform is able to verify if an individual meets your requirements by bumping customer-provided data (usually first name, last name, and DOB) against authoritative data sources without actually seeing the data. We instantly confirm whether or not there is a match, and we return a “yes”, which triggers reward delivery, or a “no” to our clients.
The new funding will support a variety of expansion and product projects, including supporting verification for students in 38 countries outside the U.S.
SheerID has been growing steadily since it was founded in 2011, and now employs 36 people at its headquarters in Eugene and a satellite office in Portland, Ore., that opened last year.