D-ID, an identity management service, has closed its Series A round on over $13.5m to support growth and marketing boost.
The investment, which was initially raised back in April, was led by AXA Venture Partners and also received support from Pitango Venture Capital, Y-Combinator, AI Alliance, Hyundai Motor Company, OMRON Ventures, Maverick Ventures (U.S.), Mindset Ventures and Redds Capital.
Having closed the round, the RegTech plans to grow its sales and marketing activities and invest into its R&D.
The company leverages image processing and deep learning technology to resynthesize any photo to a protected version. The “anti-facial recognition” solution protects photos by removing biometric data from pictures and videos while maintaining attributes such as age, gender and emotion. This lets a business store information while protecting the privacy of individuals and adhere to relevant regulations.
D-ID COO and co-founder Sella Blondheim said, “Raising this level of investor interest during a period of economic uncertainty speaks to the need our solutions fill.
“The convergence of increased surveillance and individual privacy protection places enterprises in a position where they must either anonymize their stored footage or risk violating privacy laws and face costly penalties.”
The RegTech previously bagged $4m in its seed round back in 2018. Investors included Pitango Venture Capital with participation from Y Combinator, Foundation Capital, Fenox Venture Capital, Maverick Ventures and angel backers.
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