By Nihal Mehta, Founding General Partner
Today, we’re excited to announce our investment in Alloy, an API for identity. And let’s face it, the API is the new APP. We’ve been witness to other API-centric companies like Cloudflare, Factual, Foursquare, mParticle, Sendgrid, Shopify, Stripe, Twilio, and many more, all scaling faster than any company has done have before, leveraging what the API is good for- lightweight, frictionless, self-serve and powerful- to millions of customers.
One of the things Alloy solves what many of us have experienced: applying for a credit card and getting a rejection letter in the mail three weeks later. Alloy’s API enables financial institutions like credit cards the ability to generate real-time decisions so that banks can provide approvals in seconds, increasing customer satisfaction and reducing churn and brand degradation. And that’s just one of the company’s first use cases and initial customer verticals through their robust API.More