Enigma provides the structured, verified data that AI agents need to operate in the real world without hallucination. While an LLM might know that a company exists, it cannot reliably provide its current legal status, financial health, or verified address. Enigma's API serves as a source of truth for agents performing KYB (Know Your Business) checks, automated procurement, or B2B sales research.
In the agent stack, Enigma sits in the external data and knowledge layer. They are a primary example of a legacy-tech-meets-AI-infrastructure play. By offering entity resolution as a service, they allow agent developers to bridge the gap between a generic text prompt and a high-stakes business transaction. This makes them a critical partner for anyone building autonomous systems in fintech, insurance, or supply chain management.
Enigma Technologies, Inc. began its life in 2011 as a darling of the open data movement. Based in New York, the company first gained significant attention by winning the TechCrunch Disrupt startup competition. At the time, their pitch was centered on making the vast, fragmented world of public government data as searchable and accessible as the web. They spent years indexing everything from FAA flight records to international trade logs. However, the trajectory of the company shifted as they realized that the highest-value application for this data was not just discovery, but the identification and verification of businesses. Today, Enigma is a specialized data infrastructure company that provides intelligence on the identity and financial health of small and medium businesses across the United States.
The core technical problem Enigma addresses is entity resolution. In the United States, there is no single, universal ID for a business that every agency and private company uses consistently. A business might exist under a legal name in Secretary of State filings, a "doing business as" (DBA) name on its storefront, and a different variation on its tax returns or utility bills. For a bank trying to lend money or a software company trying to onboard a new customer, this fragmentation creates a massive operational burden. Enigma solves this by building what they call the Identity Graph. This system ingests hundreds of sources—including corporate registrations, UCC filings, and transaction signals—and links them to a single, verified entity. This allows their customers to verify a business instantly without requiring the business owner to upload stacks of paper documentation.
The market for business data is traditionally dominated by legacy providers like Dun & Bradstreet, who rely on decades-old databases and manual self-reporting. Enigma competes by being more dynamic and API-first. Their data is built for automated workflows rather than manual lookup. They have raised $130 million from a list of major investors, including NEA, Two Sigma, and Capital One. This institutional backing reflects their position as a critical piece of the modern financial stack. Their customers are primarily large financial institutions, payment processors, and B2B platforms that need to manage risk at scale. By providing real-time insights into a business’s revenue and stability, Enigma allows these firms to make faster underwriting decisions than was previously possible.
In the context of the current shift toward artificial intelligence, Enigma is positioning its data as the necessary ground truth for inference engines. As developers build AI agents to handle procurement, sales, and compliance, those agents face a significant bottleneck: they are only as reliable as the data they can access. An agent tasked with finding and vetting a new supplier is prone to hallucinating details if it relies solely on the general knowledge contained within a Large Language Model. By integrating Enigma’s API, these agents can ground their actions in verified, real-world business data. This turns a generic AI into a specialized tool capable of making high-stakes decisions with the confidence of a human analyst. As more commerce moves online and businesses become increasingly ephemeral, Enigma is betting that owning the definitive record of business identity will make them the foundation for the next generation of automated financial services.
A unified source of truth for U.S. business identities built on entity resolution.
Enigma is hiring.