Is Data Zoo on way to be the next unicorn?

Data Zoo is an identity verification software business founded by Accountant Tony Fitzgibbon in 2011 has just received $22.5m investment from Ellerston JAADE Australian Private Assets Fund - and others - valuing the business over $100m

What Datazoo  does 

Data Zoo’s core product is IDUX, a digital identity ecosystem for businesses to build mutual trust with their clients. 

IDUX provides identity proofing, fraud detection and user authentication tool gives organisations the ability to apply selective and intelligent friction that matches the level of risk involved in the situation, adopting privacy-by-design principles at its foundation.

It’s  identity verification software is used by financial services companies such as MoneyGram, eToro and Mitrade to verify consumer and business identities.

Data Zoo plugs into data sources from 170 countries to offer Know Your Customer (KYC) and Know Your Business (KYB) compliance checks and fraud prevention to financial institutions, payment providers, and fintechs to onboard their customers.

Data Zoo’s Competition

Its main rivals in the identity verification and fraud prevention space are Canadian-based Trulioo, UK-listed GBG and the London Stock Exchange Group (LSEG).

Growth 

Datazoo has grown organically over the past decade, gaining a foothold in Asia and its three-year revenue compound annual growth rate is more than 30 per cent.

In February Tony passed the Batton of CEO to New York-based Charlie Minutella once it landed its first USA client. Charlie was previously the boss of Refinitiv, a data provider owned by the London Stock Exchange.

Is Datazoo the next unicorn?