Incognia
A Palo Alto-based fraud prevention company using location intelligence and device identity signals to detect account takeover and transaction fraud with minimal user friction.
Visit Website ↗ + Add to CompareOverview
Incognia builds fraud-prevention technology centered on location intelligence rather than the biometric or knowledge-based factors most identity vendors lead with. Its core product, Incognia ID, combines precise location signals, device identity, and tampering/spoofing detection to score the legitimacy of a mobile or web session in real time, aimed primarily at banks, fintechs, and e-commerce platforms trying to cut fraud losses without adding login friction for legitimate users.
The company traces back to In Loco, a Brazilian location-technology startup founded out of the Federal University of Pernambuco that built indoor positioning technology recognized by Microsoft and IEEE. It rebranded as Incognia in 2020 to focus specifically on the fraud use case, and now operates out of Palo Alto, California, with additional teams in New York and Brazil (São Paulo and Recife).
Incognia closed a $31 million Series B in January 2024 led by Bessemer Venture Partners, with participation from FJ Labs, Point72 Ventures, Prosus, and Valor Capital Group. The company reports it roughly tripled revenue and achieved 200% net revenue retention since its prior 2022 raise, and claims its location/device signals are meaningfully more precise than face-based biometric matching — a vendor-reported figure that has not been independently benchmarked.
Innovation Matrix Assessment
The company has expanded from mobile-only location signals into browser intelligence and new verticals (consumer internet, financial services, e-commerce) in a relatively short window, indicating an active product roadmap.
Reported tripling of revenue and 200% net revenue retention since 2022 point to real commercial traction, though specific named enterprise customers were not independently confirmed in available sources.
A $31M Series B in January 2024 from Bessemer Venture Partners, FJ Labs, Point72 Ventures, Prosus, and Valor Capital, on top of a $15.5M Series A, shows sustained investor confidence and growth.
Leaning on location and device signals as the primary fraud-detection factor, rather than biometrics or passwords, is a genuinely different approach to identity risk scoring than most competitors in the fraud-prevention category.
Incognia's claim that its precision is over 17x higher than face-based matching is a vendor-reported figure with no independent third-party benchmark located to corroborate it.
Location-and-device-based fraud signals are an increasingly adopted complement to biometrics in banking and fintech fraud stacks, making this a relevant category for identity and fraud teams.
Why CISOs Should Care
CISOs and fraud leaders at banks or fintechs looking to reduce account-takeover fraud without adding authentication friction can use Incognia's location/device signals as a passive risk layer.
What Makes It Different
Most identity-fraud vendors lead with biometrics or device fingerprinting alone; Incognia's core differentiator is treating precise location intelligence as the primary fraud signal.
The Matrix Verdict
67/100 — INCREMENTAL INNOVATOR
A well-funded, fast-growing fraud-prevention vendor with a genuinely distinct location-first approach, though its precision and accuracy claims remain vendor-reported pending independent validation.
Editorial Note: Claims vs. Verified Findings
Funding amounts, investor names, and the Series B close are independently corroborated by multiple funding-database and press sources. Revenue growth, retention rate, and the '17x more precise than FaceID' claim are vendor-reported and have not been independently verified.
Sources
Alternatives to Incognia
Teleport
An identity-based infrastructure access platform issuing short-lived cryptographic identities for humans, machines, and AI agents in place of…
SpecterOps
Identity attack-path security specialist behind BloodHound, the widely used open-source tool for mapping Active Directory and Entra ID…
Keyfactor
Machine identity and PKI management platform helping enterprises secure certificates, keys, and post-quantum cryptography readiness at scale.
Astrix Security
Non-human identity security platform that discovers and governs API keys, OAuth tokens, service accounts, and AI-agent credentials across…
Socure
AI-driven identity verification and fraud platform used by banks, fintechs, and government agencies to validate identities during digital…
AppViewX
Machine identity management platform automating certificate lifecycle management (CLM) and PKI operations at enterprise scale, including post-quantum cryptography…