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.
Software and information solutions for the global insurance and automotive industries.
Solera is a global leader in risk and asset management data and software as a service solutions for the automotive and insurance industries. Solera is active in over 90 countries across six continents, and has over 235,000 customers and partners, including many of the largest U.S. and European P&C insurance companies and most of the world’s largest vehicle OEMs, as well as many national governments, financial institutions, vehicle dealerships, vehicle repair shops, salvage yards, and vehicle buyers and sellers. Since 2005, Solera has completed over 50 acquisitions across its insurance and automotive lines of business. Solera currently employs over 6,000 individuals across the globe.
Solera is based in Westlake, TX, with operations worldwide.
Vista Equity Partners Fund V completed a take-private of Solera in March 2016.