How Much Did Verifiable Raise? Funding & Key Investors

Verifiable has successfully raised funding over four rounds, with the latest being a Series B round involving seven investors. The company is backed by 25 investors, including Craft Ventures and Struck Capital.

Keep reading to explore the intricacies of Verifiable's fundraising journey and the investors backing this innovative platform.

What Is Verifiable?

Verifiable is a private company based in Austin, Texas, specializing in healthcare technology. The company develops a real-time credential verification platform designed to verify licenses, sanctions, and other critical records. It operates in the health care, real-time, and software industries.

With an employee count ranging from 101 to 250, Verifiable offers solutions that automate manual tasks, ensure compliance, and optimize provider networks. Their services include primary source verification, credentialing automation, and compliance monitoring, aimed at improving efficiency for healthcare organizations.

How Much Funding Has Verifiable Raised?

1. Series B
   • Amount Raised: USD 27,000,000
   • Date: July 2023
   • Lead Investors: Craft Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale go-to-market teams, expand verification infrastructure, and enhance collaboration with Salesforce.
2. Series A
   • Amount Raised: USD 17,000,000
   • Date: August 2021
   • Lead Investors: Jack Altman, Sam Altman
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate product development and expand market reach.
3. Seed
   • Amount Raised: USD 3,000,000
   • Date: October 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial product and validate the market.
4. Pre-Seed
   • Amount Raised: Not publicly disclosed
   • Date: August 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To establish the company and begin early-stage development.

Total Amount Raised: USD 47,000,000. Current Valuation: Not publicly disclosed.

Key Investors

• Craft Ventures
  • Details: Craft Ventures is a leading venture capital firm focused on SaaS companies. Brian Murray, a partner at Craft Ventures, is also a board member of Verifiable.
  • Investment Focus Areas: SaaS, healthcare, technology.
  • Notable Investments: Verifiable, Airbnb, SpaceX.
• Struck Capital
  • Details: Struck Capital is a venture capital firm that invests in early-stage technology companies. They focus on disruptive technologies and innovative solutions.
  • Investment Focus Areas: Technology, healthcare, fintech.
  • Notable Investments: Verifiable, Postmates, Mythical Games.
• Highland Capital Partners
  • Details: Highland Capital Partners is a global venture capital firm with a focus on early-stage investments. They have a strong track record in scaling innovative companies.
  • Investment Focus Areas: Technology, healthcare, consumer products.
  • Notable Investments: Verifiable, 2U, Rent the Runway.
• 137 Ventures
  • Details: 137 Ventures is a growth-stage venture firm that provides liquidity solutions to founders and early investors. They focus on high-growth technology companies.
  • Investment Focus Areas: Technology, fintech, healthcare.
  • Notable Investments: Verifiable, SpaceX, Wish.
• The Altman Fund
  • Details: The Altman Fund is an investment fund managed by Jack Altman, CEO of Lattice, and Sam Altman, former president of Y Combinator. They focus on high-potential startups.
  • Investment Focus Areas: Technology, healthcare, SaaS.
  • Notable Investments: Verifiable, OpenAI, Reddit.

What's Next for Verifiable?

Verifiable stands at the cusp of significant growth opportunities, driven by the increasing demand for efficient credentialing and compliance solutions in the healthcare sector. With the recent $27 million Series B funding, the company is poised to scale its go-to-market teams and expand its verification infrastructure. The collaboration with Salesforce further amplifies its potential, positioning Verifiable to simplify provider network operations for larger enterprise healthcare organizations.

As the healthcare industry continues to shift towards digital solutions, Verifiable's innovative approach and strong financial backing suggest promising future fundraising opportunities. The company's rapid growth and strategic partnerships indicate that additional funding rounds or even acquisitions could be on the horizon to further enhance its capabilities and market presence.

However, Verifiable may face challenges such as maintaining growth without excessive financial burn and competing with established credentialing solutions. Ensuring continuous innovation and integration with existing healthcare systems will be crucial for sustaining its competitive edge. Despite these hurdles, Verifiable's trajectory appears promising, with substantial opportunities for growth and expansion in the evolving healthcare landscape.

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