Incode
Unicorn · $1.3BSan Francisco, US · Founded 2015 · Delaware corporation · 15 known investors
Incode provides AI-powered identity verification and fraud prevention services for financial services, fintech, healthcare, gaming, and enterprise customers globally.
Also known as Incode Technologies · Incode Technologies Inc.
Founders & leadership
Incode was founded in 2015 by Ricardo Amper.

Board

Investors · 15
Also in the syndicate · 7
Reported raises · per SEC filings
Form D private placements$164M disclosed across 3 rounds · 2021
▶$74MraisedDec 2021 · 16 investors · Other TechnologyRule 506(b)
- Thomas RubensDirector
- Martin EscobariDirector
- Ricardo AmperExecutive Officer, Director
- Offering amount
- $77.3M
- Amount sold
- $74M
- First sale
- Dec 2021
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$60MraisedDec 2021 · 14 investors · Other TechnologyRule 506(b)
- Thomas RubensDirector
- Ricardo AmperExecutive Officer, Director
- Martin EscobariDirector
- Offering amount
- $60M
- Amount sold
- $60M
- First sale
- Nov 2021
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$30MraisedMar 2021 · 21 investors · Other TechnologyRule 506(b)
- Thomas RubensDirector
- Ricardo AmperExecutive Officer, Director
- Offering amount
- $30M
- Amount sold
- $30M
- First sale
- Mar 2021
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Incode Technologies is an identity platform that verifies people, businesses and, more recently, AI agents. Its product set spans onboarding and authentication, KYC and AML compliance, age assurance, employee and candidate verification, business verification (KYB) and ultimate beneficial owner checks, plus agentic fraud detection and agentic identity (KYA). The company frames its approach around three layers: a personhood layer that uses biometric signals to confirm a live human is present, an identity layer that matches users against government systems of record using biometric, document and data checks, and a trust layer built on a graph of identity, behavior and transaction signals. Featured products include Deepsight (deepfake detection, injection attack defense, document liveness), GovFaceMatch (biometric matching against DMV and other government records) and on-device age estimation in which models run locally and no biometric data is transmitted.
The Incode Platform is positioned as identity orchestration, consolidating workflow building, decisioning, fraud analytics, case management, integrations, UI customization and accessibility in a single dashboard. Verification flows are assembled with a no-code drag-and-drop builder using templates for identity verification, KYC, KYB, step-up age verification and account recovery, with condition nodes routing sessions to pass, fail, warn or manual review outcomes; the same workflow runs across a hosted link, Web SDK and mobile SDK. Document acceptance draws on a catalog of more than 4,900 documents and can be scoped globally or per market. Case management surfaces linked sessions and fraud rings via Trust Graph and exports tamper-evident PDF evidence bundles. Integration options include a REST API, iOS, Android and web SDKs, OpenID Connect, and pre-built connectors for tools such as Okta, Microsoft Entra, ServiceNow, Salesforce, Workday, Slack and Zoom; the developer hub also lists React Native, Flutter, Cordova and Xamarin support.
Earlier company materials described Incode as an omnichannel biometric identity company whose flagship suite, Incode Omni, covered onboarding, document capture and verification, authentication and payment verification, with 50+ features that could be configured into enterprise workflows.
Founding story
Ricardo Amper founded Incode in San Francisco on June 17, 2015. Before Incode he founded La Burbuja Networks (2000), co-founded and led functional beverage startup Amco Foods (2003), which was acquired by Bimbo Group, and served as CEO and CTO of chemical distribution company Amco Group, which was sold to the Brenntag Group. He holds a BA in Business Administration from ITAM.
Business model
Incode sells an enterprise identity verification and fraud-prevention platform accessed through APIs, web and mobile SDKs, a hosted verification experience and a configurable dashboard, deployed by large organizations across banking, fintech and crypto, consumer platforms, online gaming and gambling, social media, telco and the public sector. Sources do not disclose pricing or contract structures beyond a $37.4M public-sector contract awarded by the GSA's Technology Transformation Services.
Sources do not state Incode's pricing model; the company reports enterprise deployments and at least one government contract ($37.4M awarded by the GSA's Technology Transformation Services) but no published rate card or subscription terms.
Traction
The company reports billions of trust checks (7.1B+ trust checks and 400M identity profiles cited on the platform page), coverage across 100+ style multi-country deployments described as countries and territories, 35+ in-house ML models and 99.9% average uptime. Customer outcomes highlighted include 10x faster seller onboarding at Amazon, 7M+ users verified at Klar, 99.9% deepfake detection accuracy across T-Mobile channels, Airbnb trust coverage in 200+ countries and regions, a ~46% reduction in wrongly blocked customers for an online gaming client, and a $37.4M GSA Technology Transformation Services contract. Revenue grew 6x in the 12 months preceding the December 2021 Series B.
Latest developments
On June 25, 2026, Incode announced the acquisition of Identiq Protocol Ltd., an Israeli company whose cryptographic technology lets institutions share fraud signals without exposing underlying customer data, and framed it as the centerpiece of a $100 million commitment to privacy-preserving identity infrastructure funding on-device processing, privacy-enhancing technology research and engineering hires. Terms were not disclosed; Identiq spent close to a decade and more than $50 million developing the patented method, and Incode said the technology will run across billions of verifications a year once integrated. Recent product and recognition milestones include GovFaceMatch for biometric matching against DMV records, on-device age estimation, being first to achieve iBeta Level 3 on iOS and Android, and Leader placement in the 2026 Gartner Magic Quadrant for Identity Verification.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Incode has been named a Leader in the Gartner Magic Quadrant for Identity Verification for three consecutive years, including the inaugural 2024 report and the 2026 report. It reports serving 8 of the top US banks, 8 of the top US telcos, 3 of the top neobanks worldwide and 4 of the top global marketplaces, and reached a $1.25 billion valuation in 2021. It has consolidated part of its competitive set by acquiring identity verification rivals MetaMap (2024) and AuthenticID (2025).
Incode states that it owns its entire technology stack rather than relying on sub-vendors, that verification is fully automated without human reviewers in call centers, and that all models are developed in-house and trained on its own data (cited as billions of checks and hundreds of millions of identity profiles). Other stated differentiators are direct connections to government systems of record for definitive biometric matching, privacy-preserving design including on-device biometric processing and network fraud signals shared without data pooling, and gen-AI fraud defense built into every decision rather than sold as an add-on.
Technology
Incode says it builds its AI entirely in-house, operating 35+ fully automated machine-learning models covering deepfake detection, injection defense, document liveness, behavior trust, device trust, camera trust and face match, with models retrained on new fraud vectors in real time. It cites 99.80% performance and 99.9% average uptime, direct integrations with government systems of record for biometric matching, and a fraud-intelligence network that identifies repeat fraud across customers without pooling their data. Certifications cited include first passive liveness certification at iBeta Level 1 (2019), iBeta Level 2 (2022), first to achieve iBeta Level 3 on iOS and Android, and SOC 2 Type 2, ISO/IEC 27001, FedRAMP Moderate and the Kantara IAL2 trust mark. The acquired Identiq technology uses cryptographic methods that let institutions confirm whether another organization has seen an identity before without either side exposing customer records.
Go-to-market
Incode sells directly to enterprises through a demo-request motion supported by case studies, analyst recognition and certification claims, and distributes its technology through partnerships and platform integrations, including embedding identity verification into Experian's Ascend Platform and a partnership with Equifax. A developer hub with integration guides, SDK references and API docs supports technical adoption.
Large enterprises and government agencies, spanning banking, fintech and crypto, consumer platforms, online gaming and gambling, social media, telco, commerce and marketplaces, travel, healthcare and hospitality. Named customers and references include Citi, Rappibank, Amazon, Klar, T-Mobile, Airbnb, TikTok, Equifax and Experian, plus the US General Services Administration's Technology Transformation Services.
Geography
Headquartered in San Francisco with offices listed in New York, Mexico City, Bogotá, London, Madrid, Barcelona, Belgrade and Tel Aviv, and regional leadership for North America, Latin America and Europe. The platform is described as operating across many countries and territories, and 2021 materials described offices in Europe and Latin America.
History
Founded in San Francisco in 2015, Incode launched its first AI-powered biometric authentication solution in 2017 and in 2019 introduced liveness detection, becoming the first company to pass iBeta Level 1 certification for passive liveness. It raised a $25 million Series A in March 2021 and a $220 million Series B in December 2021, reaching unicorn status at a $1.25 billion valuation while expanding globally through financial partnerships. In 2022 it developed 3D mask detection models and passed iBeta Level 2 testing. In 2024 it was named a Leader in the inaugural Gartner Magic Quadrant for Identity Verification and completed its first acquisition, MetaMap. In 2025 it repeated as a Gartner Leader and acquired AuthenticID. In 2026 it was named a Leader for a third consecutive year and acquired Israeli company Identiq Protocol Ltd. alongside a $100 million commitment to privacy-preserving identity infrastructure.
Risks & controversies
Sources describe an industry-level risk backdrop rather than company-specific controversy: third-party vendor breaches figured in 30% of the 3,322 U.S. data compromises logged by the Identity Theft Resource Center in the prior year, and Incode cites growing deepfake (48%) and synthetic ID (31%) fraud vectors. Marketing and performance figures such as accuracy, uptime and fraud-blocking rates are self-reported by the company.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 6
by search overlapCompanies competing with Incode for the same Google search keywords, organic and paid, via search-intersection analysis.
Acquisitions · 1
Early investors' stakes continue via these dealsIdentiq operates a collaborative trust and identity network that helps companies make better decisions about customer identity while maintaining privacy. The platform enables fraud prevention and risk teams across organizations to share knowledge and signals about customer trust without compromising data privacy.
Timeline · 13
launches, deals, and filingsIncode acquired Identiq Protocol Ltd., an Israeli company whose cryptographic technology allows institutions to share fraud signals without exposing customer records. Terms were undisclosed. The deal accompanies a $100 million commitment to privacy-preserving identity infrastructure covering on-device processing, privacy-enhancing technology research and engineering hiring.
Experian's SVP Global Partnerships & Commercialization describes integrating Incode identity verification into the Ascend Platform.
Incode introduced GovFaceMatch, described as the first identity solution to match biometrics against DMV records and government systems of record.
Incode completed its second acquisition, buying identity verification company AuthenticID.
Incode completed its first acquisition, buying identity verification company MetaMap Inc.
Incode developed advanced detection models for 3D masks, improved resistance to 2D attacks and passed iBeta Level 2 testing.
Incode announced a $220 million Series B led by General Atlantic and SoftBank, with participation from J.P. Morgan, Capital One, Coinbase, SVCI, the founders of dLocal and existing investors DN Capital, 3L Capital and Framework Ventures, valuing the company at $1.25 billion less than seven months after its Series A.
$220M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structureIn the news
▸Research sources · 8
primary sources listed
- Incodeincode.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Incode do?
- Incode is an AI-based identity verification, KYC and fraud-prevention platform used by banks, fintechs, marketplaces and governments.
- Who founded Incode?
- Incode was founded by Ricardo Amper in 2015.
- Who are Incode's investors?
- Incode's investors include Coinbase Ventures, Dila Capital, DN Capital, EQUIAM, Framework Venture Partners, Softbank Latin America Fund, Walter Ventures, SoftBank Group.
- How much funding has Incode raised?
- Incode has disclosed $164M raised across 3 rounds.
- Where is Incode headquartered?
- Incode is headquartered in San Francisco, US.



