Bain Dry Powder: The Private Equity Podcast With Vista’s Robert F. Smith. PART 1 PART 2

COVID-19 Response

Solera: Scaling to Meet Growing Identity Verification Demands

With the increasing need for government services and benefits, the UK is seeing an exponential rise in the need for secure and reliable digital identity certifications. For UK citizens to avail of more than 20 critical government services, they need to authenticate their identity either in person, which is impossible amid COVID-19 shutdowns or via an online identity program, GOV.UK Verify. These services include applying for universal credit, a payment to help with living costs, accessing their state pension or requesting a basic disclosure and barring service check.

Before COVID-19, about 35,000 people created a GOV.UK Verify digital identity each week. Since March 16, over 640,000 new accounts have been created. This increase correlates with new universal credit claims as people seek crucial financial support.

Digidentity, a Solera division, has been working closely with GOV.UK Verify to provide these digital identity services. It was critical that the Company scale rapidly to support the increased need for digital identity creations as a result of COVID-19. By adjusting their services to prioritize users’ most pressing needs and training extra team members for additional account support, Digidentity was able to scale their infrastructure to support a dramatic increase in traffic – going from verifying 25 users per minute to 400 users per minute in one month. By responding quickly and effectively, Digidentity has been able to help facilitate rapid access to critical services for thousands of people in need during a particularly challenging time.

Learn More About Digidentity's GOV.UK Verify Partnership Here.

Year of Investment: 2016
Portfolio Status: Current
Headquarters: Westlake, TX

Manages 300MM+ Transactions Annually

Vehicle lifecycle management solutions.

Solera is a leading global provider of integrated vehicle lifecycle and fleet management SaaS, data and services. The Company empowers customers to succeed in the digital age by providing them with a “one-stop-shop” solution that streamlines operations, offers data-driven analytics and enhances customer engagement. With four lines of business, Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, DealerSocket, Omnitracs, eDriving/Mentor, Explore, CAP HPI, Autodata and others.

Solera is based in Westlake, TX, with operations worldwide.

Vista Equity Partners Fund V completed a take-private of Solera in March 2016.

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