Identiq has raised $47 million in Series A funding, and the company’s decentralized identity platform is being used by Fortune 500 companies. Identiq is offering a wide range of features to businesses that want to make their identity systems secure.
Identiq raises $47 million in Series A funding
Identiq is an Israeli startup which provides a solution to validate the identity of a consumer. The company uses a distributed network of websites to provide an identity verification experience. This helps to weed out bad actors and enables companies to validate sensitive information without sharing private data.
The company’s technology compares new user details against trusted identities to identify fraudulent activity. It also provides password reset protection.
Identiq plans to use the funding to expand its network, add more members and grow its workforce. This will accelerate the company’s growth in a multi-billion dollar market.
The company also plans to invest in its artificial intelligence capabilities. Its technology produces better results at a lower cost than third-party sources of data. It also reduces the number of false positives.
The company’s technology also enables companies to verify funding source ownership and shipping addresses. It also provides a seamless onboarding experience.
The company has already recruited some of the largest consumer-focused organizations as customers. Its technology has the potential to transform the way organizations across industries use user data.
Identiq’s decentralized identity platform
Identiq’s decentralized identity platform provides businesses with a positive verification of new users, connecting their IP address, phone number, email and other data points to the digital identity of the new user. This technology reduces fraud and provides consumers with privacy.
The decentralized identity technology allows for a user to own their digital identity, providing users with the ability to control their identity data. These identifiers are owned by the user and are cryptographically secure.
In addition to providing users with a digital identity, decentralized identifiers are also tamper-proof. They are stored off-chain in digital wallets. These wallets generate a pair of cryptographic keys to secure user data. During the authentication process, the user’s private key is used to verify the user’s identity.
Identiq’s approach is designed to comply with privacy regulations, and to prevent a database of private user information from being accidentally accessed. In addition, Identiq claims that its approach has a low rate of declined transactions.
Identiq offers a range of features
Identiq, the identity validation startup headquartered in Tel Aviv, is one of the most buzzed about companies in the tech world. The company has a robust product and service suite that is scalable to meet the needs of companies in a variety of industries. In particular, the company offers the ability to check credentials for users, verify shipping addresses, and even offer password reset capabilities. Identiq has a proven track record of delivering superior customer service. In fact, the company is ranked among the highest rated tech firms in the Silicon Valley.
Conclusion
As a result, the company has a small but highly effective team. To date, the company has secured about $52 million in funding. Among its most notable investors include the likes of Google, Cisco, Amazon, Microsoft, PayPal, and Facebook. As of late, Identiq has about 80 employees in the biz and plans to grow its ranks to about 100 by the end of the year. Interestingly, the company is also a well oiled machine, with the majority of its employees having a vested interest in the company’s long term success.
