Trinsic, an infrastructure for building user-controlled identity products, has raised $8.5m in a seed round.
The round was led by Georgian with participation from Jon Gelsey (founding CEO, Auth0), Frederic Kerrest (executive vice chairman, co-founder & COO, Okta), Kickstart Seed Fund, Founder’s Co-op, Osage Venture Partners, Forward VC, and a dozen additional angel investors.
Trinsic said the round is the largest of its kind in the decentralised identity category to date.
The company offers teams a single API that acts as an abstraction layer that bridges ecosystems, taking complexity away from the development process, and ensures products are futureproof.
The company’s products are used by over 100,000 end users, which has increased ten fold in the last year. Among those users are banks, insurance companies, automobile brands, governments and startups.
The decentralised identity champion said it plans to use the capital to expand its team and accelerate its vision to make digital identity as widely adopted as credit cards.
Riley Hughes, co-founder and CEO of Trinsic, said, “Humanity is sending people to space, editing genes, and developing AI that can write better blog posts than I can.
“Yet, I still can’t even prove my legal name is Riley Hughes – let alone anything else about myself – digitally. Decentralised identity will finally solve this. We’re fortunate to have a front-row seat as our customers and partners bring that future a step closer to reality.”
Identity management platform ZITADEL recently raised $2.5m in seed funding.
Copyright © 2022 FinTech Global
Copyright © 2018 RegTech Analyst
