Access Management,
Artificial Intelligence & Machine Learning,
Identity & Access Management
Series E Funding at $2B Valuation Drives Fraud Defense and Identity Technology Expansion
ID.me, a digital identity provider founded by a former U.S. Army platoon leader, has secured $340 million in funding, bringing its valuation to $2 billion. The company aims to enhance its capabilities to combat AI-fueled fraud targeting both government and corporate systems.
According to Chief Revenue Officer Chris Mills, this Series E funding will enable ID.me to confront sophisticated threat actors leveraging deepfakes and stolen identities. The company intends to allocate significant resources towards research and development, the introduction of new verification products, and the enhancement of its orchestration layer and signal intelligence.
“We are committed to ensuring the company is exceptionally well-funded to execute our product and engineering roadmap, especially since the threat landscape has become increasingly high-stakes,” Chief Financial Officer Samantha Greenberg stated in an interview with Information Security Media Group.
Founded in 2010, ID.me employs over 1,100 personnel and has significantly increased its valuation since its Series D funding round in 2023. The firm is led by Blake Hall, who, during his military service, led over 450 combat patrols in Iraq, earning him two bronze stars.
ID.me’s Vision for a Robust Identity Verification Layer
Mills emphasized the necessity for organizations to maintain thorough identity documentation even after onboarding employees. ID.me aims to create a comprehensive identity layer that will facilitate continuous verification of employee access throughout their tenure with an organization.
ID.me acknowledges that nation-state actors—particularly from China—are increasingly employing deepfake technology alongside stolen data to enhance their attack strategies. To counter these advancements, ID.me is investing in cutting-edge fraud detection and biometric verification systems that combine both artificial intelligence and human oversight.
“Keeping pace with these methods is essential,” Mills remarked. “As adversaries utilize AI, we must continually refine our resources to meet these challenges, especially in collaboration with major agencies and corporations.” The company’s intent is to create a verification process that spans the entire employment lifecycle, efficiently integrating with more than 300 existing enterprise platforms.
ID.me is also addressing the growing issue of fraudulent firms misusing shell company registrations for benefits such as unemployment insurance. Mills pointed out that traditional verification tools like Employer Identification Numbers (EIN) have proven inadequate. Thus, ID.me is developing innovative organizational verification technologies that incorporate both automated analyses and manual research approaches.
The firm is enhancing its capabilities by combining tech-driven solutions with thorough investigative practices, including web searches and social media research. Mills believes this dual approach is vital for transitioning ID.me from individual to institutional identity verification, especially within state-level unemployment systems, where fake businesses have become a notable problem.
“Utilizing our platforms for integrations was initially focused on EINs,” Mills elaborated. “However, challenges arise as about 40% of businesses cannot be identified solely through their EIN, necessitating both product development and manual interventions to validate business legitimacy.” This reflects ID.me’s commitment to fortifying its role in identity verification as the landscape evolves.
