ID.me, a digital identity verification platform, has secured $132 million in funding to expand its services and accelerate growth. The funding round was led by Counterpoint Global, a growth equity investment firm, with participation from existing investors such as PSP Partners, Lead Edge Capital, and F-Prime Capital.
ID.me was founded in 2010 with the aim of providing a secure and convenient way for individuals to verify their identity online. The platform offers a range of identity verification solutions, including government-issued ID verification, facial recognition, and biometric authentication. Its services are used by a variety of organizations, including government agencies, healthcare providers, financial institutions, and e-commerce companies.
The new funding will be used to expand ID.me’s services into new markets and industries, as well as to invest in product development and technology infrastructure. The company also plans to hire additional staff to support its growth.
ID.me has seen significant growth in recent years, driven in part by the COVID-19 pandemic. The platform has been used by a number of government agencies to verify the identities of individuals applying for pandemic-related benefits, such as unemployment insurance and stimulus payments. The company has also seen increased demand from healthcare providers and e-commerce companies looking to improve their identity verification processes.
The funding round comes at a time when digital identity verification is becoming increasingly important. As more transactions move online, the need for secure and reliable identity verification solutions is growing. ID.me’s platform offers a range of solutions that can help organizations verify the identities of their customers or users quickly and securely.
In addition to its core identity verification services, ID.me also offers a range of other solutions, including fraud prevention tools and digital wallet services. The company’s digital wallet allows users to store and manage their personal information securely, making it easier to complete transactions online.
Overall, the $132 million funding round is a significant milestone for ID.me and highlights the growing importance of digital identity verification in today’s world. With its expanded resources, the company is well-positioned to continue its growth and expand its services into new markets and industries. As more organizations look to improve their identity verification processes, ID.me is likely to play an increasingly important role in the digital economy.
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