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OCR Labs raises USD30m in Series B led by Equable Capital

OCR Labs has completed a USD30 million Series B round led by New York-based Equable Capital, a New York-based family office founded by Jonathan Smidt, a former partner at investment firm KKR.

OCR Labs, which is headquartered in London, will use the funding to expand its team in North America and EMEA. 

Viewed as a technology leader in the digital identity verification space, OCR Labs solves major challenges including identity fraud and regulatory compliance, using its proprietary technology. The end-to-end solution supports Anti Money Laundering (AML) and Know Your Customer (KYC) regulations and improves customer identity verification while reducing fraud.

Since announcing its Series A last year, OCR Labs has continued to scale into the UK and European markets. As part of its Series B, it is bolstering its international growth with a new office in North America, a direct sales force, and hiring a global Chief Revenue Officer. OCR Labs has raised $46M through its combined Series A and B. Previous investors include OYAK and Halkin Ventures.

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