Verituity secures $18.8m round led by Forgepoint Capital and Sandbox Industries

Verituity Raises $18.8 Million: Key Points

1. Funding Round:
   • Verituity, a US-based provider of verified payout solutions, raised $18.8 million.
   • The funding round was led by Forgepoint Capital and Sandbox Industries.
   • Ardent Venture Partners and MTech Capital also participated.
2. Use of Funds:
   • Expand into new markets such as energy and mortgage servicing.
   • Enhance presence in banking and insurance sectors.
   • Further innovation of its machine learning and AI models.
3. Leadership and Board:
   • Chris Zock, Sandbox Industries’ managing partner and co-CEO, will join Verituity’s board of directors.
4. Company Overview:
   • Headquartered in McLean, Virginia, Verituity offers a cloud-based platform ensuring accurate digital payouts by linking banks, payers, and payees.
5. Collaboration and Innovation:
   • In 2022, Verituity collaborated with BNY Mellon to develop the Vaia payments platform for digital disbursements.
6. Strategic Position:
   • Verituity is positioned at the intersection of verification, intelligent payments, and trust.
   • The company is leveraging AI to address payee verification challenges and mitigate payout risks.
7. Investor Comments:
   • Don Dixon, co-founder and MD at Forgepoint Capital, emphasized the importance of Verituity’s investments in AI and the ongoing digital transformation in disbursements.