IDology, which provides fraud-prevention services, is up for sale, three sources said.
William Blair is advising on the process, two of the sources said.
Founded in 2003, IDology offers technology to help businesses verify the identity and age of customers, without any outside assistance or internal IT help. The Atlanta company’s main product, ExpectID, supplies electronic age verification and email authentication.
IDology has raised $1.65 million in angel funding, according to PitchBook. This includes $1 million from an unnamed investor in 2005, the data company said.
ITC Holding Co, the West Point, Georgia, investment firm, is an investor in IDology.
Cam Lanier, chairman and CEO of ITC, sits on IDology’s board. Don Burton, managing general partner of South Atlantic Venture Funds, is also on IDology’s board. (South Atlantic Venture Funds is no longer investing.)
It’s unclear how much IDology is seeking.
IDology is the latest verification company to go up for sale. Jumio, backed by Centana Growth Partners, has been on the block since April, Buyouts reported. Jumio, Palo Alto, California, has three products — Netverify, BAM Checkout and Fastfill — that help businesses verify documents, like passports and driver’s licenses, using mobile apps and online.
IDology and William Blair could not be reached for comment.
Action Item: Contact CEO John Dancu at +1 866-520-1234