Identity management software provider Ping Identity has acquired ShoCard, the US-based creator of a blockchain-equipped identity verification platform, for an undisclosed amount providing an exit to corporate venturing backer Recruit.
ShoCard uses mobile devices as a personal identity vault, and through integration with the Ping Intelligent Identity Platform, which secures more than 2 billion accounts, will be able to share that information using facial or fingerprint biometrics.
Recruit Strategic Partners, the corporate venturing arm of human resources firm Recruit, was part of a $4m round for ShoCard in 2017 that took its overall funding to $5.5m.
The round included venture capital firms Morado Ventures, AME Cloud Ventures, Storm Ventures, Danhua Capital and Correlation Ventures, and angel investor Robert Tinker. It followed $1.5m from Morado Ventures, AME Cloud Ventures, Enspire Capital and Digital Currency Group in 2015.
