SheerID, the Oregon-based firm that leverages its digital verification identity technology to support gated, exclusive offer campaigns, unveiled its Instant Student Verification solution today. Available in 191 countries, the first-of-its-kind technology enables brands from Amazon to Spotify to more effectively make gated offers to university students worldwide.
Using SheerID is straightforward. Students provide some basic information – name, university, and date of birth – and SheerID verifies their eligibility for student offers from a wide and growing variety of top brands. This gated offer approach not only provides for more relevant rewards and offers, it also respects the privacy preferences of Gen Z consumers who SheerID said are anticipated to make up 40% of consumer spending by 2020.
“(This) announcement marks another major milestone for SheerID and a major milestone for the industry,” SheerID CEO Jake Weatherly said. “Building authentic, trust-based relationships with students around the world is an imperative for every brand as students are literally the next-generation consumer.” Weatherly said that the ability to instantly verify a student’s status, anywhere in the world, “ushers in a tsunami of opportunity” for brands marketing to Gen Z consumers in what he called a “privacy-friendly context.”
The concept, as Weatherley explained in a blog post this week titled Why SheerID Launched the First Worldwide Student Verification Platform, puts exclusivity as the center. Discussing the critical opt-in nature of gated offers, he wrote: “By recognizing the person on the other side of the purchase – and respecting their rights to control their data – exclusivity marketing goes beyond the transaction to infuse more meaning into the exchange. It creates an authentic customer relationship.”
In addition to the instant student verification announcement, SheerID also introduced its enhanced fraud prevention. This additional layer of protection features cross-checking of specific identity attributes with third party sources, as well as leveraging advanced algorithms to detect suspicious activity consistent with fraud.
SheerID made its Finovate debut earlier this year at FinovateSpring in San Francisco, where the company demonstrated multiple use cases of its Verification Platform. The company counts more than one billion consumer attributes across nearly 9,000 authoritative data sources in its Verified Identity Network.
SheerID has raised $32.1 million in funding, and includes Centana Growth Partners and Voyager Capital among its investors.