US-based digital identity technology provider ID.me has secured $100m in a series C round featuring CapitalG, the growth equity arm of internet and technology group Alphabet, at a $1.5bn valuation.
Hedge fund manager Viking Global Investors led the round, which included new media holding company WndrCo, Morgan Stanley’s Counterpoint Global unit, PSP Growth, Lead Edge Capital, Willoughby Capital, BoxGroup, Moonshots Capital and private investors Marcelo Claure, Alexa Von Tobel and Dan Rosensweig.
ID.me has created a digital identity network which helps a base of more than 39 million users verify their identity online. It plans to use the series C proceeds to expand its team along with its corporate and government customers.
Blake Hall, ID.me’s founder and CEO, said: “What Visa did for financial transactions, we are doing for identity with our secure digital identity network. It is hard to imagine a world without Visa, where people would not have a portable credential for payments, yet logins and passwords are often useful only at one organisation.
“ID.me empowers people to fully control their own data through a portable and trusted login so they do not need to create a new password at each site they visit.”
The company had raised a total of $30m in equity funding and $7m of debt financing as of a $19m series B round led by growth equity firm FTV Capital in 2017.
The series B followed a $10m debt and equity round in 2014 featuring financial services provider USAA, Silicon Valley Bank, Box Group, K Street Capital, Blu Venture Investors and Kelly Perdew.
