Reputation And Trust Platform MetaMap Raises $70M Series B

December 28, 2021 | FinTech, News, Venture Capital
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MetaMap was previously known as Mati.

MetaMap, a company that allows entrepreneurs to engage with customers and talent on the basis of “merits,” announced the close of $70 million Series B funding round led by Tribe Capital, with participation from Craft Ventures, Alameda Research and Titan Capital, as well as angel investors including Jerry Murdock of Insight Partners. (PYMNTS.com)

Merits

“By connecting fragmented databases that contain dozens of trust and reputation footprints and building easy-to-use API integrations that service providers businesses, and soon consumers, can tap into, we hope to shine a digital light on the areas of the human map that were previously inaccessible,” said MetaMap Co-founder and CEO Filip Victor in a statement.

“The world continues to gravitate towards a more fluid, borderless economy that fosters greater participation from individuals who have typically been excluded from global commerce,” Victor added. “However, the tools needed to make this vision a reality are still missing.”

Companies and founders in the eCommerce, cryptocurrency and gig work fields can avail of MetaMaps’s services that include fraud prevention, identity verification and credential sourcing. Its client roster of 370 companies includes Binance, Mercado Bitcoin and Allianz.

Individuals can more easily evidence their legal identity so they can access online services.

“Just as Google helped information become more accessible and discoverable, MetaMap helps people — and the true skills, qualities, or merits they possess — be accessible and discoverable to each other,” says the company.

Solid growth

MetaMap has announced impressive growth metrics since its previous, Series A round:

  • +10x in valuation
  • +6x in revenue
  • +6x our team size
  • +200 added customers

The company will use the new funding to continue and expand its focus on emerging markets where identity assessment is a huge problem.

Related Story: Identity Verifying Platform Socure Reels In $450M Series E

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