In 2021, identity fraud losses totaled $52 billion and new account fraud increased 109%. This problem is only getting worse as today's authentication, device fingerprinting and fraud detection solutions are failing to protect mobile users. Incognia, formerly known as Inloco, was founded in 2020 to change this with a new approach to mobile app security.
The company’s location technology reads network signals and sensors from the mobile device itself to prevent location spoofing - the act of someone digitally faking their location. All this is done without collecting personally identifiable information and, in doing so, Incognia is balancing user experience and security.
The company is now protecting more than 200 million mobile users around the world on applications including fintech, crypto, gaming, delivery, and social. It has attracted significant funding, notably $31 million at the start of 2024. It will be using this to support its growth and further development of digital identity signals. Incognia will also consolidate its presence in North America, Europe, and EMEA, as well as its expansion into new verticals, including consumer internet, financial services, and eCommerce.
Steph
Company Specialist at Welcome to the Jungle
