ID.me, the Virginia-based digital identity network, has secured $132 million in a recent funding round led by Viking Global Investors. The investment brings the company’s total funding to $240 million, making it one of the most well-funded identity authentication platforms in the market.
The funding round also received participation from other investors such as CapitalG, Morgan Stanley Counterpoint, FTV Capital, PSP Growth, Auctus Investment Group, Moonshots Capital, and Scout Ventures. With this new capital infusion, ID.me plans to expand its digital identity network to serve more industries and customers, improve its technology infrastructure and security, and strengthen its sales and marketing efforts.
The new appointment of CFO strengthens the management team
Along with the funding announcement, ID.me also revealed that Samantha Greenberg has been appointed as the company’s new Chief Financial Officer. Greenberg is replacing Rachel Brinker, who had been temporarily filling the CFO role after the departure of former CFO Rajat Bahri last summer.
Greenberg brings more than a decade of experience in finance and strategy, having previously served as a Partner and Chief Investment Officer at Margate Capital Management, a New York-based hedge fund. She also worked at Paulson & Co., another prominent hedge fund, and Goldman Sachs.
“I’m thrilled to join ID.me at this exciting time of the company’s growth,” said Greenberg. “ID.me has established a leading position in the digital identity space, and I look forward to building on that momentum and helping the company achieve its long-term goals.”
Greenberg’s expertise and leadership will be crucial as ID.me seeks to expand its reach and product offerings, while maintaining a strong focus on security and privacy.
ID.me: A Trusted Digital Identity Network
ID.me was founded in 2010 to offer a digital identity wallet that allows users to prove and share their identities online without revealing additional personal information. The company’s digital identity network includes 14 federal agencies and over 500 retail brands, all of which use ID.me to verify customers’ identities and affiliations.
The company’s digital identity wallet helps users confirm their affiliation with specific groups, such as teachers, students, first responders, and military veterans, to access exclusive discounts and benefits. ID.me has become a trusted provider of digital identity authentication for industries ranging from e-commerce and financial services to healthcare and government.
ID.me reaches 100 million milestone
Last week, ID.me achieved a significant milestone by announcing that it had registered 100 million digital wallets on its platform. This achievement underscores the growing demand for secure and reliable digital identity authentication solutions, driven by the accelerating digital transformation in various sectors.
“As we continue to grow and expand, we remain committed to providing our more than 100 million members with a safe and secure digital identity credential that facilitates access across services, benefits, healthcare, and commerce without compromising their personal data,” said Blake Hall, Co-founder and CEO of ID.me.
Looking ahead
ID.me’s latest funding round and new management appointment position the company for continued growth and innovation in the digital identity space. With its strong network of partners and increasing number of registered users, ID.me is well-positioned to become the go-to provider of trusted digital identity authentication for businesses and individuals.
