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Mesh, a B2B Identity Startup Founded by Ex-Amazon Execs, Unveils Multi-Factor Business Identity Solution for Marketplaces, Ecommerce, Compliance; Bolsters Leadership with Industry VeteransMesh, the modern provider of real-time professional license verification trusted by leading marketplaces, today announced the launch of its Multi-Factor Business Identity solution for marketplaces, ecommerce, and vendor & contractor compliance. Co-founded by ex-Amazon executives, Diego Asenjo (CEO) and Tony Bryan (CTO), and following a $5.7 million seed round led by Greycroft, Mesh now helps companies seamlessly verify, onboard, and monitor any legitimate U.S. business - along with their registration, licensing, insurance, and background information - with industry-leading 99%+ satisfaction reported by verified SMBs and sole-proprietors. An overwhelming majority of companies with business onboarding, trust and safety, and vendor compliance needs depend on manual reviews. Advisory firm Liminal found that 98% of surveyed companies require some manual review, with nearly 60% relying on manual reviews for at least a quarter of their business verifications. Their findings among financial institutions echo Mesh's insights on buyer and seller onboarding in ecommerce, marketplace trust, and vendor compliance. To solve this problem, mid-size and large companies often deploy teams across product, engineering, data science, and operations, and a stack of vendors to get the necessary business signals and increase coverage. Still, these companies require tens to hundreds of manual operators to review small and micro businesses that are partially or fully "invisible" to their vendors and annually see millions of dollars lost to customer friction, regulatory non-compliance, and fraud. With Mesh, there is a better way. Mesh's Business and Entity Verification (BEV) solution combines privacy-centric data collection, hundreds of proprietary integrations with primary sources and real-time government data, an ecosystem of data partners, and identity lifecycle workflows to offer unmatched accuracy, data freshness, and non-compliance detection - while delivering high automation, conversion, and SMB satisfaction. "Mesh has effectively addressed the challenges of establishing business trust and navigating compliance with their innovative Business and Entity Verification solution. We are thrilled with Mesh's expertise and vision in bringing an accurate and seamless solution for companies," said Elaine Russell, Operating Partner at Greycroft. "Mesh's extensive integrations into disparate data sources give them the ability to automate the vast majority of busiess identity verification, relieving customers of painstaking manual review processes and bringing a frictionless user experience that consumers have grown accustomed to in the B2B world," said Ruth Foxe Blader, General Partner at Foxe Capital. Introducing Multi-Factor Business Identity Verification Mesh introduced the next evolution in its verification platform, offering:
Mesh's journey from License Verification to a Business and Entity Verification (BEV) solution signifies an evolution into a complete, end-to-end business identity platform. Diego Asenjo, CEO of Mesh, said, "The status quo is frustrating. Business verification processes can take a day or more in 30%+ of cases, and often, small businesses are simply invisible to single-point solution providers. Companies must also integrate and triangulate with multiple disparate single-point solution providers for business, license, insurance, and other data - which is time-consuming to implement, customize, and maintain across platforms. And despite their efforts, companies suffer losses stemming from incomplete coverage and stale data. Companies love Mesh's comprehensive identity platform because of our uncompromising commitment to delightful data capture experiences, accuracy, and in-depth coverage with real-time data with a single multi-factor API that is a no-brainer. Legitimate small businesses and sole proprietors love that getting verified with Mesh's custom-branded building blocks feels safe, quick, and easy." "The response to verifications by Mesh from our community has been very positive, and we're pleased with the increased engagement we've seen from verification. Homeowners see the verification badge, which increases their trust and the likelihood of a connection. Our Verified Pros see higher quality leads and get more business. We've created a healthier ecosystem for our customers. Everyone wins here," said John Mannelly, Senior Product Manager from Houzz. Expanded Leadership With 30+ years of senior Amazon experience, Diego Asenjo (CEO), Tony Bryan (CTO), and founding engineers rounded out their leadership team with industry veterans. They are Mike Nelson (CRO), who founded the identity verification (IDV) business at Mitek and led revenue at BehavioSec (acquired by LexisNexis Risk Solutions) as the company's CRO; and Andres Benvenuto (VP of Partnerships & Data), with 20+ years of experience in data businesses like Socure, Dun & Bradstreet, and Creditsafe. For more information on how to auto-verify more SMBs, visit meshverify.com. About Mesh Mesh's mission is to make business identity radically simple, trusted, and portable for 100% of legitimate businesses, enabling seamless, trusted, and compliant interactions - starting with Marketplaces, Ecommerce, Home Services & Construction, and Property Management. For press inquiries, please reach out to [email protected]
View source version on businesswire.com: https://www.businesswire.com/news/home/20240207022887/en/ |
