IDPartner, a company that optimises online identity verification through a network of financial institutions, has bagged $3.1m in a seed round.
The round was led by Abstract Ventures, with support from Foundation Capital, Circle Ventures, Firsthand Alliance, Correlation Ventures, Success Venture Partners and Aleo.
Angel investors also took part in the raise, including former chief scientist of Founders Fund Aaron VanDevender, Lance Armstrong and Joe Grundfest.
IDPartner addresses a problem that confronts all 5 billion Internet users — how to verify their identities and build trust online.
Founded by former Santander identity and payments leaders, IDPartner collaborates with OneID UK, Akoya and others to create a product that allows individuals to control their digital identities and choose a preferred identity verification partner from a network of trusted providers, including banks and other financial service firms.
IDPartner benefits businesses by providing a high assurance, low friction reusable method for customers to securely access their online services, wherever they are. The company also helps banks and other partners become indispensable to their customers by providing safer, faster, and easier onboarding and login across the entire internet.
The IDPartner marketplace comprises trusted partners and businesses that the company has verified. Only verified partners will be available for individuals to select from and use for their reusable ID and verification needs as they navigate their digital lives.
IDPartner CEO Rod Boothby said, “By giving banks the tools to manage digital identity as a new asset class and by aligning marketplace incentives to drive adoption by companies and users, we can transform the most frustrating identity journeys into an experience as easy and familiar as social login.
“We are building an accessible, assured digital identity layer for the internet that empowers people and protects everyone from fraud and cybercrime.”
Operant, a CyberTech company looking to protect cloud native applications, has reportedly raised $3m in its seed funding round.
Operant CEO and co-founder Vrajesh Bhavsar claims Operant is the first runtime application protection platform, which means it can prevent lateral attacks and data breaches by securing cloud native applications from the inside out.
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