Incognia

Overview

Incognia is a cutting-edge technology company specializing in digital identity and fraud prevention solutions through the unique use of location and device data. Founded in 2010, the company is headquarterd in Palo Alto, California. It was established by a team including André Ferraz, Alan Gomes, Airton Sampaio, Denyson Messias, Lucas Martins, and Gabriel Falcone. As of 2024, the company has raised approximately $78 million, with a notable Series B funding round amounting to $31 million completed in January 2024. Incognia primarily serves sectors such as food delivery, financial services, and marketplaces.

Recent Developments

August 2024: Incognia's growth continues to accelerate, with plans to expand its user base to half a billion. This expansion aligns with the company’s strategic focus on enhancing its identity verification services using location-based analytics.
June 2024: The company announced enhancements to its Browser Fingerprint solution, introducing advanced features for account takeover and bot detection. These improvements are designed to address both fraud prevention and user experience by reducing false positives.
March 2024: During the Merchant Risk Council event in Las Vegas, Incognia showcased its next-generation identity signal, emphasizing its role in fraud prevention across various industries. The event highlighted Incognia's new funding secured earlier in the year to bolster its presence globally.
January 2024: Incognia closed a $31 million Series B round led by Bessemer Venture Partners. This funding round aims to expand its services across North America, Europe, and APAC, and further develop its digital identity solutions.

Attribute	Information
Founding Date	2010
Headquarters	Palo Alto, California, USA
Founders	André Ferraz, Alan Gomes, Airton Sampaio, Denyson Messias, Lucas Martins, Gabriel Falcone
Revenue	$42 million
Profits	Not publicly disclosed
Key Investors	Bessemer Venture Partners, Point72 Ventures, Valor Capital Group, Unbox Capital
Industry	Network Management Software, Security Software
Number of Employees	200

Early History

Incognia began in 2010, when a group of technology enthusiasts, led by André Ferraz and Alan Gomes, started developing advanced location technology. Initially, the company focused on enhancing the accuracy of indoor location solutions by integrating technologies such as WiFi, Bluetooth, and mobile sensors. This technology laid the groundwork for Incognia's future developments in identity verification and fraud prevention.

In 2014, Incognia gained recognition for its precision in indoor location technology, receiving accolades from industry leaders like Microsoft. This recognition spurred further investment and interest, helping Incognia transition toward digital identity solutions by utilizing location data as a new signal for user verification and fraud detection.

Company Profile and Achievements

Incognia has developed a distinct market presence with its location-based digital identity solutions. The company's technology involves precise device fingerprinting, location analysis, and tamper detection to deliver scalable, user-friendly fraud prevention services.

2010-2014: Focused on the development of indoor location technology, which became the basis for later identity verification solutions.
2015: Secured $7 million in funding to further develop its mobile identity solutions, integrating precise location-based technologies.
2020: Officially launched its digital identity solution for mobile-first companies, including a shift towards food delivery and financial services industries.
2022: Completed a Series A funding round of $15 million, underscoring robust revenue growth and a significant expansion of its global footprint.
2024: Cemented its position as a leading innovator in location-based identity solutions, having raised a total of $78 million over multiple funding rounds.

Incognia's core strength lies in its ability to analyze location behavior, which offers significant improvements over traditional biometric systems regarding accuracy and fraud prevention. This has led to widespread adoption across various sectors needing high-security standards and frictionless user verification.

Current Operations and Market Position

Currently, Incognia delivers its solutions to a wide array of global clients across diverse industries such as e-commerce, financial services, ride-hailing, and food delivery. With a focus on low-friction, high-confidence identity verification, the company uses state-of-the-art technology to prevent fraud in real-time scenarios.

Incognia's unique value proposition rests on its tamper-proof device identifiers and location behavior analysis, which allows businesses to identify fraudulent account activities with unmatched precision. Their strategic use of device and location data has substantially reduced instances of account takeovers and fraudulent transactions, positioning Incognia as a leading player in identity security solutions.

Conclusion

Incognia's trajectory in the digital security landscape underscores its innovative approach to solving complex identity challenges. With its sophisticated location-based technology, the company has not only enhanced the security frameworks of major industries but also reshaped the narrative around identity verification by minimizing user friction. Looking forward, Incognia is poised for continued growth and influence in the field of digital identity, leveraging its latest funding to expand and refine its offerings. As fraud prevention becomes increasingly paramount, Incognia's solutions will likely remain integral in safeguarding digital interactions across markets.