ID.me Raises $132 Million

ID.me Raises $132 Million
  • ID.me announced a $132 million funding round, bringing its total raised to $240 million.
  • The company has brought on Samantha Greenberg as CFO.
  • Today’s news comes a week after the company reached a major milestone– reaching 100 million registered wallets on its platform.

Digital identity network ID.me announced it closed a $132 million funding round this week. The investment boosts the Virginia-based company’s total funding to $240 million.

Viking Global Investors led the round, which also saw participation from CapitalG, Morgan Stanley Counterpoint, FTV Capital, PSP Growth, Auctus Investment Group, Moonshots Capital, and Scout Ventures. ID.me has not specified what the funds will be used for.

Along with today’s funding announcement, ID.me also revealed it has appointed Samantha Greenberg as Chief Financial Officer. Greenberg is replacing Rachael Brinker, who was temporarily filling the CFO role after the company’s former CFO Rajat Bahri vacated the position last summer.

Greenberg brings more than 20 years of experience leading financial operations, analyzing private and public technology and consumer companies, and scaling high-growth businesses. Most recently, she served as CFO of Mint House and has also held positions at Citadel, Goldman Sachs, Paulson & Co. Greenberg, and Margate Capital Management LP– which she founded.

“We are fortunate to have Samantha join our senior leadership team, given her excellent track record in growing companies to serve their customers and business partners,” said ID.me Co-founder and CEO Blake Hall. “Her expertise will support our mission to provide our more than 100 million members with a safe and secure digital identity credential facilitating access across services, benefits, healthcare and commerce without selling their personal data. Samantha is joining our team at the right time, after we closed our Series D funding and surpassed 100 million members. These are big milestones toward our vision to streamline access to benefits and services while ensuring no identity is left behind.”

ID.me was founded in 2010 to serve as a digital identity wallet that helps users prove and share their identities online without disclosing additional personal information. The company maintains a digital identity network that includes 14 federal agencies and 500+ retail brands, all of which use ID.me to verify customers’ identities and affiliations. ID.me’s ID wallet helps users prove they belong to certain affiliated groups, such as teacher, student, first responder, or military veteran. Last week, ID.me achieved a major milestone, reaching 100 million digital wallets registered on its platform.


Photo by Pixabay

ID.me Secures $8.3 Million in New Funding

ID.me Secures $8.3 Million in New Funding

McLean, Virginia-based digital identity network ID.me has boosted its total equity capital to more than $39 million after locking in an investment of $8.3 million this week. The new funding comes from a $12.5 million equity offering from the company, which featured the participation of 32 different investors.

ID.me has not provided any commentary on the investment, nor disclosed plans for how it will use the additional capital. The company’s previous fundraising was a $19 million Series B round in March 2017, according to Crunchbase.

The global public health crisis has put a spotlight on digital identity companies like ID.me. In March, the company announced the launch of a real-time collaboration workspace on messaging platform, Slack, to help health care providers share information about the coronavirus. In April, ID.me teamed up with DrFirst to make it easier for health care workers to verify their identities when using DrFirst’s mobile e-prescribing app, iPrescribe.

And in May, ID.me partnered with Shoes.com, enabling the company to accurately verify frontline healthcare workers as part of its program to provide them with discounts on footwear.

“As the U.S. enters its third month battling COVID-19, first responders and healthcare workers continue to soldier tremendous burdens and personal risks as they fight day-to-day on the frontlines of the pandemic,” ID.me founder and CEO Blake Hall said. “We are honored to play a role in the Step Up program and proudly support Shoes.com’s efforts to recognize these national heroes.”

A Finovate alum since 2014, ID.me most recently demonstrated its identity verification gateway at FinovateSpring in 2017. The company’s identity verification services – ranging from multi-factor authentication, document verification, and compliance monitoring, in addition to its identity gateway – are used by a wide variety of well-known organizations and institutions including USAA, NASA, Under Armor, and the United States Department of Treasury.

ID.me notes that it onboards 60,000 new users a day and has a total of 24 million users of its technology. Earlier this month, the company announced another partnership, this time working with LensDirect as part of their We See You, Heroes initiative to provide frontline health care workers and first responders with discounts on vision care products.


Photo by Andrea Piacquadio from Pexels

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

ID.me Teams Up with VA to Bring Identity Proofing Option to Vets

ID.me Teams Up with VA to Bring Identity Proofing Option to Vets

After a successful four-month pilot with the Department of Veterans Affairs, the government agency will launch its Virtual In-Person Identity Proofing offering – powered by identity verification platform ID.me.

“Using Virtual In-Person Identity Proofing, we can serve the 19 year-old active duty service member with a thin credit file, the 82 year-old veteran who struggles with technology, and the 35 year-old military spouse living internationally,” explained ID.me CEO and founder Blake Hall. “As a former soldier, I can say that no man left behind is one of the most important promises service members make to one another. This collaboration between VA and ID.me ensures that no identity is left behind. We are proud to lead the way.”

The new program enables eligible users to access VA services and benefits at VA.gov regardless of circumstances – such as a lack of an address. With Virtual In-Person Identity Proofing, veterans will have the option to complete the identity verification process via a consultation with one of ID.me’s “Trusted Referees” via video chat.

“As part of the digital modernization of the VA, it is important that all veterans can securely access their benefits and services online,” Department of Veteran Affairs CTO Charles Worthington said. “Adding Virtual In-Person Identity Proofing is a critical step towards making sure that no veteran is left behind while keeping VA in compliance with the latest NIST standards.”

The VA is the first federal agency to comply with new NIST 800-63-3 Assurance Level 2 standards. These guidelines apply to all federal agencies with citizen-facing applications that require “a high degree of trust.” With Virtual In-Person Identity Proofing, the VA will be able to reach veterans with few financial records, who live overseas, or find the online process challenging and require assistance – all without having to require the veteran to travel to a government facility.

ID.me demonstrated its ID.me Identity Gateway at FinovateSpring 2017. Headquartered in Herndon, Virginia and founded in 2010, ID.me has provided identity verification services for a wide range of public and private entities – from NASA and the U.S. Treasury Department to USAA and Under Armour.

Earlier this year, ID.me announced surpassing the 10 million user milestone. Last fall, the company unveiled its KYC/AML identity verification and ID document solutions, and expanded its offering to enable retailers to readily and accurately verify their customers for a variety of discounts and rewards.

ID.me has raised $46.9 million in funding, and includes FTV Capital, the National Institute of Skilled Training (NIST), and USAA among its investors.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

ID.me Offers Retailers Eligibility Verification for Discount Programs

ID.me Offers Retailers Eligibility Verification for Discount Programs

Digital identity innovator ID.me is expanding its segment-specific gated offering, giving retailers the opportunity to provide a diverse range of exclusive discounts across more segments and geographies.

ID.me has been known for providing group affiliation verification for active duty military and veterans, first responders and government employees, as well as teachers and students. The company’s new initiative will enable businesses and organizations to offer their customers and workers targeted, exclusive deals while limiting discount fraud.

“ID.me provides a seamless verification solution that empowers retailers to rapidly verify customer eligibility and give back to vital customer segments, all while driving revenue growth,” ID.me CEO Blake Hall explained.

Tyrone Fiegen, Senior Program Manager, Customer Experience & Loyalty program at Lenovo highlighted the importance of accuracy when it comes to gated offerings. “When we give a targeted discount, it is important that it goes to the right customers and access doesn’t get leaked,” Fiegen said. “Using ID.me’s verification technology, we are confident the right customers are taking advantage of the offer, and as a result, we have been able to offer richer, more attractive discounts.”

Lenovo is the first retailer in Canada to go live with ID.me’s solution. The company is leveraging the technology to provide a 10% discount on ThinkPad laptop computers for students as part of back-to-school season. Lenovo plans to offer a similar discount for active duty military and veterans, as well.

Founded in 2010 and headquartered in McLean, Virginia, ID.me demonstrated its Identity Gateway at FinovateSpring 2017. By verifying identity and group affiliation against the most comprehensive and authoritative data sources available, ID.me’s platform both simplifies the verification process for customers while increasing conversion rates for companies and organizations. ID.me’s technology is used buy more than seven million customers and by leading brands such as Under Armor, LinkedIn, Lenovo, and Ford.

Last month, ID.me announced that it would provide its digital credentialing service to government agencies and healthcare organizations as a white-label offering starting in 2019. Named to the One World Identity’s top 100 Influencers list in February, ID.me began the year teaming up with Veterans of Foreign Wars of the U.S. (VFW) to enable veterans to access VA benefits via Vets.gov, as well access to military discounts at more than 200 retailers.

ID.me has raised more than $46 million in funding from investors including FTV Capital, USAA, and the National Institute of Skilled Training (NIST).

Finovate Alumni News

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  • ID.me Offers Retailers Eligibility Verification for Discount Programs.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.