HyperVerge: Revolutionizing Identity Verification with AI-Powered Solutions
Leading the way in KYC, KYB, and fraud detection, HyperVerge empowers businesses worldwide with cutting-edge tech
HyperVerge is a leading AI and deep learning company specializing in identity verification, KYC, and fraud detection solutions for industries such as banking, financial services, insurance, and telecom. Renowned as the market leader in the APAC region due to its extensive volume and product maturity, HyperVerge has successfully onboarded 200+ global businesses which include giants like Vi, Jupiter, HSBC, Grab, Swiggy, PayU and more. Its AI models, trained on a diverse range of facial variations and ID formats, ensure exceptional accuracy and performance even in low-bandwidth environments.
HyperVerge's AI models for real-time image and video analysis excel in accuracy (99.55%) and are specifically optimized for deployment in low-bandwidth environments.
HyperVerge provides comprehensive identity verification, address verification, deepfake detection, age verification, and fraud detection solutions to companies operating in industries such as BFSI, crypto, telecom, and e-commerce. With a proven track record of verifying over 700 million identities across 190 countries, its proprietary AI models are designed to deliver real-time performance even on low-end devices and in challenging network conditions. This enables Hyperverge to rapidly innovate and introduce custom AI checks as new requirements arise.
Hyperverge’s customer onboarding stack significantly reduces customer drop-offs and prevents millions of dollars in identity fraud while ensuring strict adherence to KYC and AML compliance. Companies leverage its Identity Verification Platform for seamless customer onboarding, fraud checks, face authentication, age verification, database checks, document verification, eKYC, and other essential services.
Products
Business Model
Revenue Model
The revenue model is primarily based on a B2B SaaS (Software as a Service) approach, encompassing several key components:
Subscription-Based Model: HyperVerge offers recurring subscription plans for access to its AI-powered identity verification and fraud detection services, providing flexibility with monthly or annual options.
Usage-Based Pricing: To accommodate varying business needs, HyperVerge offers usage-based pricing where clients are charged based on the volume of identity verification transactions processed.
Enterprise Licensing: For larger clients, HyperVerge provides tailored enterprise licensing agreements, offering dedicated solutions, customized features, and dedicated support.
API Integrations: HyperVerge offers API-based services, allowing clients to seamlessly integrate verification services into their applications. Revenue is generated through API usage or volume-based fees.
Professional Services: To address specific client requirements, HyperVerge may provide consulting or customization services, generating additional revenue through professional service fees.
This diversified revenue model enables HyperVerge to scale its revenue in line with customer growth, particularly in high-volume industries like finance and telecom.
Investors
HyperVerge has attracted significant investment from prominent venture capital firms, including:
New Enterprise Associates (NEA): A leading venture capital firm that has actively supported HyperVerge's growth.
Milliways Ventures: Another key investor contributing to HyperVerge's development.
Y Combinator: As a graduate of the Y Combinator accelerator program (Winter 2016 batch), HyperVerge has received investment from this renowned startup accelerator.
Social Capital: Led by Chamath Palihapitiya, Social Capital has been a significant investor in technology-driven startups like HyperVerge.
Competitive Analysis
HyperVerge Academy
HyperVerge Academy is empowering young Indians from underprivileged backgrounds by providing them with the opportunity to secure well-paying tech jobs.
As a platform that connects motivated learners with experienced tech mentors and sponsors, HyperVerge Academy offers intensive upskilling programs designed to equip individuals with the necessary skills for successful careers in technology.
Committed to the belief that everyone possesses the potential to solve real-world challenges, HyperVerge Academy integrates this philosophy into its curriculum, meetings, and session designs.
Today, with over 900 million users verified worldwide and an impressive 95% auto-approval rate, HyperVerge has evolved into a leading identity verification and fraud detection platform. Their platform now offers customizable workflows and intuitive dashboards, streamlining user experience and minimizing fraud.
HyperVerge is committed to centralizing all aspects of verification into a single, AI-powered platform, 'HyperVerge ONE'. This innovative solution will empower businesses with an automated and efficient verification process.
HyperVerge's journey is a testament to its adaptability, innovative approach, and strong leadership. From a small startup, HyperVerge has grown into a significant player in the AI industry, revolutionizing the way identity verification and fraud detection are conducted.
great read