Sorainen, working with Orrick, has advised Veriff on its USD 100 million series C financing round, co-led by Tiger Global and Alkeon with the participation of existing investors IVP and Accel.
"The latest round brings Veriff’s total funding to USD 200 million and its valuation to USD 1.5 billion, making Veriff the ninth unicorn to be born in Estonia," Sorainen informed. "The new financing will be used to accelerate Veriff’s global growth and invest in R&D, especially to advance product expansion. The company will also grow its sales and marketing teams to onboard more global clients and build on recent customer success programs."
Founded in 2015, Veriff is an Estonian-headquartered global online identity verification company. The company serves a portfolio of organizations in the financial technology, crypto, and mobility sectors.
"Organizations and consumers needed to verify identities online more than ever before in 2021 – from onboarding remote employees, to creating a safe space for gaming in the metaverse, and conducting business fully online – which makes the establishment of digital trust and transparency incredibly critical," Veriff CEO Kaarel Kotkas commented.
Sorainen previously advised Veriff on its USD 69 million Series B financing (as reported by CEE Legal Matters on April 19, 2021).
The Sorainen team was led by Senior Associate Mirell Prosa and included Partner Toomas Prangli.
The Orrick team included Partner John Bautista and Managing Associates Paul Klimos and Adam Krueger.
Sorainen did not respond to our inquiry on the matter.
