Baselayer Raises $35M to Identify AI Agents

San Francisco – Baselayer, an AI-powered startup that helps financial institutions verify businesses and assess fraud risk, has raised $35 million in new funding. The company plans to use the capital to expand its identity technology to cover AI agents.

M13 led the company's Series A financing round, with participation from Picus Capital, Torch Capital, and Afore Capital. The total funding for Baselayer, founded in 2023, now stands at approximately $40 million. CEO Jonathan Awad stated that with the new funding, Baselayer can address the growing challenge of identifying and verifying AI agents' actions.

Baselayer's technology combines business identity, credit, and fraud data to help banks, fintech companies, and other financial service providers evaluate prospective customers. Over 2,000 U.S. financial institutions already utilize Baselayer's technology for customer verification and risk management. The company claims to have helped its clients prevent over $1 billion in fraud losses since its inception.

With the new funding, Baselayer is developing its "Know Your Agent" (KYA) system. This system is designed to determine who deployed an AI agent, whom the agent represents, and whether it has authorization to perform a specific task. Baselayer aims to establish an industry standard for AI agent identification to ensure that legitimate agents are not blocked as suspected bots.