£1.1m boost for electronic signature developer

A company that has developed a platform which uses AI and facial recognition software to allow people to confirm their identity has secured £1.1m.

Videosign, the Liverpool-based electronic signature developer, will use the funds to further develop its online security platform.

Founder and CEO Steven Tallant said: “Videosign already offers unprecedented levels of security and confidence for anyone using electronic signatures.

“This new investment will help us to continue Videosign’s development and offer even higher levels of security to our clients.”

The investment has come from the Moonstone Group, which provides a portfolio of compliance, education and fintech solutions to the financial services market in South Africa.

Hjalmar Bekker, CEO of Moonstone, said: “Use of Videosign is well established at Moonstone, and it is a platform we trust for a range of business applications, from remote contracting to exam invigilation.

“Use of electronic signatures is only going to increase, and we believe that Videosign will play a pivotal role in its growing acceptance among users, bringing document-signing into the 21st century.”

Videosign is an online meeting platform with the facility to record video and other evidence like IP addresses and timestamps to allow for e-commissioning and remote witnessing of signatures on legal documents ranging from affidavits to contracts.

The platform’s AI-powered facial recognition software compares an individual with their passport or driving licence photo to confirm their identity. It also has the ability to link to external identity databases for further checks.

Steven Tallant said: “This investment is an indication of how integral the Videosign platform has become to Moonstone’s operations.

“This is an exciting time for Videosign, and we have plans to continue improving our security features to offer even stronger levels of assurance and compliance to our customers and lead the way in this evolving way of doing business.”