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Startup ID.me Reaches $1.5 Billion Valuation For Its Identity Software Used By 22 U.S. States

By March 22, 2021August 24th, 2022News

Startup ID.me Reaches $1.5 Billion Valuation For Its Identity Software Used By 22 U.S. States

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Mar. 22, 2021
By Alex Konrad, Forbes

Forbes spotlights ID.me as the online identity startup reaches $1.5 billion valuation for its identity verification software. The identity verification solution is currently being used in 22 states to combat fraud and help clear unemployment backlogs.

The ambitious goal, according to Hall, is to build “the Visa in the identity layer of the internet.” Hall’s startup thinks it can slot in alongside the tech giants as a neutral vendor that isn’t interested in its users’ data. At the same time, ID.me’s digital calling card can be re-used wherever the company’s got a contract, meaning the same DMV visitor in California could drive to Las Vegas and use it to check-in at the MGM Grand casino, skipping the front desk. “Portable logins aren’t trusted, and trusted logins aren’t portable,” Hall says.

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ID. me

ID. me

ID.me simplifies how individuals prove and share their identity online. ID.me’s next-generation identity platform meets the highest federal standards for online identity proofing and authentication, without compromising access for hard-to-identify groups. ID.me’s technology is used by almost 30MM individuals and 500 partners, including federal and state agencies, healthcare organizations, financial institutions, retailers, and nonprofits.