Middesk

Middesk

Business identity verification and compliance automation

About Middesk

Simplify's Rating
Why Middesk is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

51-200

Company Stage

Series B

Total Funding

$77.2M

Headquarters

South San Francisco, California

Founded

2019

Overview

Middesk provides a business identity platform that helps companies verify the identity of other businesses, a process known as Know Your Business (KYB). This is especially important for financial institutions and technology companies that need to prevent fraud and comply with regulations. Middesk's services allow clients to automate their KYB processes, which saves time and improves efficiency in operations like loan processing and business onboarding. The platform features easy-to-integrate Application Programming Interfaces (APIs) and a customizable dashboard that gives clients access to accurate data about businesses and Secretary of States. This flexibility allows clients to tailor the information to their specific needs. Middesk generates revenue by charging clients for access to its platform and services, making it a valuable partner for businesses aiming to streamline their operations and enhance customer onboarding.

YC Company
Simplify Jobs

Simplify's Take

What believers are saying

  • Middesk's $57M Series B funding supports team expansion and innovation.
  • Partnerships with Snappt and Backbase enhance fraud detection and risk mitigation.
  • Joining NayaOne Tech Marketplace expands reach to banks and fintechs.

What critics are saying

  • Increased competition from KYB entrants like Alloy and Trulioo.
  • Potential over-reliance on partnerships, risking disruption if they dissolve.
  • Rapid tech changes could render current solutions obsolete without continuous innovation.

What makes Middesk unique

  • Middesk automates business verification, streamlining Know Your Business (KYB) processes.
  • The platform integrates with Socure for comprehensive KYB/KYC verification solutions.
  • Middesk's APIs provide customizable data access for diverse client needs.

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Funding

Total Funding

$77.2M

Above

Industry Average

Funded Over

3 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$57M
Middesk
$65M
Substack
$100M
ClickUp

Benefits

Medical, dental, & vision coverage

Unlimited PTO

Stock-options

401(k)

Parental leave

Hybrid work

Growth & Insights and Company News

Headcount

6 month growth

-2%

1 year growth

0%

2 year growth

-1%
PR Newswire
Mar 20th, 2025
Middesk Named A 2025 Fast Company World'S Most Innovative Company

Leading Business Identity Platform Recognized for Revolutionizing Business Verification and Risk AssessmentNEW YORK, March 18, 2025 /PRNewswire/ -- Middesk , a premier business identity platform, today announced it has been named to Fast Company's prestigious list of the World's Most Innovative Companies for 2025. Each year, Fast Company spotlights the companies redefining industries through technology and bold innovation. This recognition highlights Middesk's pivotal role in modernizing Know-Your-Business (KYB) for financial institutions, fintechs, marketplaces, and beyond.As financial institutions and businesses face rising fraud risks and increasingly complex compliance requirements, Middesk is leading the way with a suite of products that enable companies to verify business legitimacy, assess risk with confidence, and make faster, more informed decisions. Middesk helps financial institutions and businesses reduce fraud, accelerate onboarding, and unlock new revenue opportunities while meeting compliance obligations."Being named one of the World's Most Innovative Companies is a testament to Middesk's relentless focus on solving one of the biggest challenges in business today—trust," said Kyle Mack , CEO and co-founder of Middesk. "Verification isn't just about compliance—it's a competitive advantage. Our mission is to provide instant access to all of the data, insights, and documents needed to onboard and transact with any business in the world

Snappt
Feb 5th, 2025
Snappt Strengthens Fraud Detection with Know Your Business (KYB) Checks

Now, by partnering with Middesk, Snappt is taking its fraud detection efforts to the next level.

Tearsheet
Nov 6th, 2024
Announcing the 2024 Tearsheet Lending Awards Winners

Middesk won Tearsheet's Best Data Product for Lenders award for transforming business verification in lending.

IBS Intelligence
Oct 3rd, 2024
Backbase & Middesk bring KYB verification for Banks and Credit Unions

Backbase, the Engagement Banking Platform, has announced an integration with Middesk, a business identity platform designed to automate business verification and underwriting decisions, helping banks and credit unions mitigate risk and reduce fraud.

FF News
May 21st, 2024
Middesk Joins The Nayaone Tech Marketplace

The business identity platform, Middesk, has joined the NayaOne Tech Marketplace. Middesk helps banks, lenders, payments providers, and other financial institutions verify their commercial customers so they can onboard the right businesses and enable them to transact faster.“We are thrilled to announce our partnership with NayaOne. With this collaboration, we jointly enable more banks and fintechs to verify the legitimacy of businesses in a digital and automated way. Middesk’s Business Verification solution ensures that financial institutions say ‘yes’ to more businesses while meeting strict compliance and regulatory requirements. “Kyle Mack CEO and Co-founder, Middesk“We’re excited to welcome Middesk to the NayaOne Tech Marketplace. With the growing instances of online fraud, it’s essential for banks and financial institutions to mitigate potential risks, offer more accurate identity verification processes, shorten onboarding times, and improve customer experience.” Varun Resh Marketplace Manager, NayaOneTo satisfy compliance requirements and mitigate risk, banks and financial institutions spend too much time and money manually verifying business

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