What Enigma Technologies does

Enigma Technologies, Inc. is a U.S. business identity data company headquartered in New York City. Its core product is a proprietary entity-resolution identity graph (Graph-Model-1) that resolves every U.S. business into a unified profile by linking brands, DBAs, legal entities, operating locations, ownership structures, and government records. The graph covers 100M+ registrations, 30M+ brands, and 2B+ relationships. Enigma also operates a merchant transaction panel derived from 750M+ anonymized credit and debit cards representing 30B+ annual transactions and $4.5T+ in payment volume, providing near-real-time revenue and growth signals on U.S. businesses. The platform is consumed via a GraphQL API and the Enigma Console, with product modules spanning KYB/onboarding, customer and transaction screening, merchant transaction signals, GTM/sales-marketing enrichment, and payment risk/underwriting. Distribution occurs through self-serve API plans (Free, Pro at $20/month, Max at $200/month with MCP/AI integration), enterprise contracts with custom pricing, Google Cloud Marketplace, and a broad partner network including Snowflake, AWS, Databricks, Alloy, Taktile, LSEG, and others.

Enigma serves primarily U.S. financial institutions, fintechs, payments providers, identity/risk platforms, sales-and-marketing firms, and SMB lenders. Named enterprise customers include Capital One, Chase, DoorDash, Ramp, Alloy, Gusto, and Bill, with 21 of the 30 top U.S. banks reported as customers. Revenue mechanics blend subscription tiers, usage-based credit consumption ($5 per 100 credits after plan allocation), enterprise custom contracts, partner data licensing, and marketplace distribution. The company has raised approximately $130M cumulatively across rounds through 2019, including a $28.2M Series B in 2015 led by NEA and a roughly $95M growth round in 2018 also led by NEA with strategic participation from Capital One Ventures, BB&T, MetLife, Amex Ventures, Comcast Ventures, and Two Sigma Ventures. Co-founders Hicham Oudghiri (CEO) and Marc DaCosta (Chairman) lead the company, with Scott Steinberg serving as CPO/COO.

Name

Enigma Technologies

Legal name

Enigma Technologies, Inc.

Website

https://enigma.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Enigma Technologies provides a proprietary business identity graph resolving every U.S. business into unified profiles, enriched with a merchant transaction panel covering over 40% of U.S. card volume. It serves financial institutions, fintechs, payments providers, and SMB lenders via API, marketplace, and partner channels for KYB, screening, underwriting, and GTM use cases.

Ownership category

akta.pro rank

Product category

Business Identity Data & Intelligence

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Transaction Analytics & Cash-Flow Insights (risk signals, forecasting) (FSAGACAG)

akta.pro secondary industry

Risk Scoring, Fraud & Anomaly Detection (HDAAAHAD)

Keywords

• Business identity data
• Entity resolution platform
• KYB compliance solutions
• Merchant transaction analytics
• Business data API

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Subscription Plans (Pro and Max): Monthly subscription tiers (Pro at $20/month for 600 credits, Max at $200/month for 8000 credits) that provide fixed monthly credit allocations for API and console access to business data with various feature sets.
2. Usage-Based Credits: Pay-as-you-go credit consumption model at $5 per 100 credits once the initial plan allocation has been utilized. Credits are consumed based on data tier and attribute type accessed (Core=1 credit, Plus=3 credits, Premium=5 credits per brand; Core Operating Location=+1 credit, Plus=+3 credits, Premium=+5 credits).
3. Enterprise Custom Contracts: Enterprise tier with custom pricing for organizations requiring full transaction histories, SSO, Teams, Projects, ACH, and other advanced features. Sold through direct sales engagement.
4. Data Licensing to Partners: Licensing of Enigma's business data asset to platform partners like Alloy, Taktile, Snowflake, AWS, and Databricks for embedding in their own products and services.
5. Marketplace Distribution Revenue: Revenue from Google Cloud Marketplace distribution of KYB Compliance Agent, where customers can deploy Enigma's compliance solution directly within Google Cloud infrastructure.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

Enigma operates a business identity data platform built on a proprietary entity-resolution graph (Graph-Model-1) that resolves and links every U.S. business—public, private, large, and small—into a single unified profile. Customers access the data via a GraphQL API or the Enigma Console to power KYB compliance, customer and transaction screening, merchant intelligence, underwriting, and sales-and-marketing use cases.

Product overview

Enigma Technologies offers a business identity data platform built on a proprietary entity-resolution identity graph (Graph-Model-1) that resolves and links every U.S. business into a single unified profile. The core platform is accessed via the GraphQL API and Enigma Console (web UI), with data organized into Core, Plus, Premium, and Corporate Registration attribute tiers consumed on a credit-based model. The primary product modules include: (1) the KYB product for Know Your Business compliance and onboarding verification, (2) Customer & Transaction Screening for OFAC and watchlist monitoring, (3) Merchant Transaction Signals for near-real-time payment volume and revenue data, (4) GTM Solutions for sales and marketing workflows, and (5) Payment Risk & Underwriting for credit and lending use cases. A notable launch is the KYB Compliance Agent on Google Cloud Marketplace. The Max plan adds MCP (Model Context Protocol) integration enabling AI agents to query business data. Data is accessible via API (GraphQL), batch append/file delivery, and search UI, with pricing tiers spanning Free (limited API calls), Pro ($20/month), Max ($200/month with AI/MCP), and Enterprise (custom). The platform covers 100M+ business registrations, 30M+ brands, and 2B+ relationships across all U.S. businesses.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Identity Graph (Graph-Model-1) Proprietary knowledge graph that resolves every U.S. business (public, private, large, small) into a single unified profile linking brands, DBAs, legal entities, operating locations, ownership, and government records. Covers 100M+ registrations, 30M+ brands, and 2B+ relationships. Powers all other Enigma intelligence products.
• GraphQL API Primary programmatic interface for accessing Enigma's business identity, KYB verification, screening, growth/GTM, and merchant transaction data. Supports GraphQL queries and is accessed via the Enigma Console with API keys. Available in legacy v1 and current graph-model-1 versions.
• KYB (Know Your Business) Product Know Your Business compliance and onboarding solution that verifies U.S. businesses using trusted government sources. Features instant verification of Secretary of State filings, TIN/EIN verification, high-risk activities classification, OFAC sanctions screening, UBO verification, and automated approval decisioning for financial institutions and compliance teams.
• Customer & Transaction Screening Screening product for customer and transaction monitoring at scale. Performs sanctions screening (OFAC and government watchlists) on persons and business entities at onboarding and on a continuing basis, with options to fine-tune to organizational risk appetite and compliance requirements.
• Merchant Transaction Signals Near-real-time merchant payment volume and revenue data derived from an anonymized credit and debit card panel covering 750M+ cards, 30B+ transactions annually, and $4.5T+ payment volume. Provides merchant card revenue, growth rate, transaction counts, refunds, customer counts, and e-commerce vs. in-person volume breakdown for payments, BNPL, and merchant intelligence use cases.
• GTM Solutions (Growth / Sales & Marketing) Suite of data products for go-to-market teams including brand search, semantic search, lead qualification, prospect list building, enrichment, and market benchmarking. Provides real-time revenue signals, growth data, industry information, contact data, and event triggers for sales and marketing workflows targeting SMBs.
• Payment Risk & Underwriting Risk assessment and underwriting data product providing merchant revenue, growth signals, refund rates, and SMB financial health indicators to support prequalification and long-term portfolio risk monitoring for lenders, credit decisioning platforms, and SMB underwriters.
• Enigma Console Web-based user interface for accessing Enigma's business data. Allows users to search and explore business data, manage API keys, view credit usage and billing, configure SSO and team management on the Enterprise plan, and access file enrichment via a secure file exchange.
• KYB Compliance Agent on Google Cloud Marketplace Automated Know Your Business verification agent deployed on Google Cloud Marketplace. Verifies U.S. business identities for compliance teams using Enigma's identity graph, automates a significant portion of manual KYB review, and is designed to run entirely on Google Cloud infrastructure for financial institutions and compliance teams.

Quantifiable outcome

• Banks increased up to 3x more conversions in new merchant services accounts
• +4 more outcomes

Named customers10 records

Segments8 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability6 records

Feature6 records

Partnerships

15 partnerships are on record, tiered flagship, core and minor.

• Google CloudflagshipTechnology or Integration · 12 May 2026Enigma launched its KYB Compliance Agent on Google Cloud Marketplace, enabling deployment within Google Cloud infrastructure for compliance teams to verify U.S. business identities using various Google Cloud services.
• AlloyflagshipTechnology or IntegrationAlloy integrates Enigma KYB into its identity risk management platform, enabling financial institutions to auto-approve good customers and flag risky businesses with up to 80% KYB cost reduction. Partners use waterfall data orchestration for higher match rates.
• SnowflakecoreTechnology or IntegrationSnowflake provides data exchange integration allowing customers to access Enigma data alongside internal data in existing data warehouse workflows.
• Amazon Web Services (AWS)coreTechnology or IntegrationAWS cloud infrastructure partnership for hosting Enigma's SaaS applications. Enigma utilizes Amazon's top-tier secure cloud services for its Data as a Service solution.
• DatabrickscoreTechnology or IntegrationDatabricks provides data exchange integration enabling customers to access Enigma's revenue, growth, and firmographic data within their existing data lakehouse architecture.
• TaktilecoreTechnology or IntegrationTaktile integrates Enigma KYB data into its decisioning platform, helping financial institutions streamline onboarding and KYB processes with automated approvals and reduced overhead.
• LSEGcoreTechnology or IntegrationLSEG (London Stock Exchange Group) integrates Enigma KYB data into its platform for financial institution customers requiring business verification and compliance.
• PrimecoreTechnology or IntegrationPrime integrates Enigma revenue and growth data for risk monitoring and prequalification in credit underwriting processes.
• Pyxis by Bain & CompanycoreImplementation/ SI/ Consulting PartnerPyxis consulting firm uses Enigma's merchant transaction data to generate market advice and insights, helping customers benchmark industries and find growth opportunities.
• FMCG DirectcoreGTM or Marketing PartnerFull-service omni-channel marketing agency specializing in financial institutions uses Enigma data to help customers better target, segment, and engage SMB audiences using real revenues, growth signals, and payment platform data.
• Lead GeniusminorGTM or Marketing PartnerLead generation partner using Enigma data to provide customers with higher marketing performance through business financial health and industry insights.
• AcuantminorOthersPartner logo displayed on Enigma's partner page, indicating integration or technology partnership relationship.
• HansaminorOthersPartner logo displayed on Enigma's partner page.
• HummingbirdminorOthersPartner logo displayed on Enigma's partner page.
• VayaminorOthersPartner logo displayed on Enigma's partner page.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Veriff: Identity verification company offering KYC/KYB, fraud detection, and AML screening across global markets. Competes with Enigma in business verification and customer screening workflows, particularly for digital-first financial institutions.
• Persona: Identity verification platform covering both consumer KYC and business KYB, with configurable workflows and a marketplace of data sources. Competes with Enigma in business verification and ongoing customer screening for fintech and platform customers.
• Middesk: KYB-focused data provider offering business verification, beneficial ownership, and underwriting signals primarily to fintechs and banks. Closest head-to-head competitor to Enigma's KYB product, differentiated by a narrower focus and API-first onboarding.
• Plaid: Provides bank-account-linked transaction data, identity, and income/asset verification to fintechs and lenders. Comparable to Enigma's Merchant Transaction Signals and risk/underwriting use cases, focused on financial-transaction data flowing into consumer and SMB applications.
• Trulioo: Global identity verification platform with business verification (KYB) and AML/sanctions screening products. Directly comparable to Enigma's KYB and Customer & Transaction Screening offerings, with stronger international coverage but a thinner U.S.-specific business identity graph.
• Alloy: Identity and fraud decisioning orchestration platform used by banks and fintechs, which integrates Enigma's KYB data as one of several providers. Functions as both a partner and a competitor since Alloy customers can route business verification through Alloy's stack rather than directly to Enigma.
• Envestnet Yodlee: Provides aggregated bank-account transaction data, verification, and risk analytics to lenders, wealth managers, and fintechs. Overlaps with Enigma's transaction-analytics and SMB underwriting use cases, with stronger consumer-account aggregation coverage.

Broad incumbents

• Moody's / Bureau van Dijk (Orbis): Provides global corporate structure, UBO, and compliance data through Orbis and related products. Competes with Enigma in KYB, sanctions/AML screening, and corporate hierarchy resolution for financial institutions, with the advantage of broader international coverage.
• LexisNexis Risk Solutions: Sells identity verification, KYC/KYB, fraud, and compliance data to U.S. banks and insurers. Overlaps with Enigma in KYB verification, sanctions screening, and risk scoring, with broader consumer and public records coverage.
• Dun & Bradstreet: Largest U.S. business identity and credit data provider, selling firmographics, corporate hierarchies, and risk data into the same bank, fintech, and SMB underwriting use cases that Enigma targets. Enigma's identity graph and KYB product compete with D&B's deeper, longer-history business data assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Enigma_data
• LinkedInlinkedin.com/company/enigma-technologies-inc-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds8 records

Investors17 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enigma Technologies