Identiq, a startup that is building the world’s largest Anonymous Identity Validation Network, has raised $47M in a Series A round led by Sony Innovation Fund and Insight Partners. The company is also backed by the Sony Innovation Fund and has previously raised $20 million from existing investors. Identiq aims to help companies validate their users’ identities without sharing sensitive information. Privacy and data theft have become a major concern for leading consumer-focused organizations, and identiq’s network is already being targeted by fraudsters posing as real users.
Identiq is building the world’s largest Identity Validation Network
Identiq is a startup that’s building the world’s largest anonymous identity validation network. Using a technology called “identity validation” to compare new online user information against trusted identity databases, the company aims to provide better authentication results at lower cost than traditional third-party methods.
Identiq’s technology uses the consensus of its network of member companies to fight fraud and identify trusted users. The resulting data enables a higher approval rate and reduced false positives. The company is ranked as a “Cool Vendor” for Privacy by Gartner. Its privacy and security innovations have earned it recognition from industry analysts and are now being used in major companies around the world.
Identiq’s technology relies on peer-to-peer trust and experience to ensure the legitimacy of new users. Each new member is validated by other network members, ensuring that the person is who they say they are. This ensures the privacy and security of users, while improving the experience of online customers. In addition, Identiq members never share customer data or identifiable information with third-party data providers.
Identiq is partnering with Sony Innovation Fund
The investment by Sony comes at an interesting time for Identiq. The Israeli startup recently raised $47 million in Series A funding, led by Insight Partners, Vertex Ventures, and Amdocs. The round also included participation from Sony’s investment arm, the Sony Innovation Fund.
The new funding will help Identiq continue its growth plans and expand its network. With the fresh capital, the company will be able to add more members and expand its technology. Its technology is based on comparing new online user details with verified identities. This helps companies validate sensitive information without disclosing private information.
Sony Innovation Fund invests in mid-stage startups worldwide. The investment program focuses on startups in Japan, Europe, India, and other regions. It is one of the many venture capital programs launched by the Sony Group.
Identiq has raised $47m
Identiq is an anonymous identity validation network based in Tel Aviv, Israel. The startup recently closed a $47M Series A funding round led by Insight Partners. The round also included existing investors, including Amdocs and Sony Innovation Fund by IGV. The funds will help Identiq expand its membership and improve validation quality and coverage.
The funding comes at a time when the startup is focusing on scaling its identity validation network. The Israeli company has already secured customers such as Sony, and it is targeting organizations that use the internet to protect their private data. With this latest round of funding, Identiq can focus on expanding its network and building the world’s largest identity validation network.
The new funding will allow Identiq to continue to grow its workforce and reach new markets. The company will continue to expand its product portfolio, adding language support for businesses worldwide.