Self-sovereign identity platform Passbase has raised $600,000 in its pre-seed funding round ahead of its full launch later this year.
The round was led by a group of business angels and tech investors from Alphabet, Stanford, Kleiner Perkins, EY, Upheaval, and Seedcamp.
Passbase’s GDPR-compliant platform uses facial recognition, liveness detection, ID authenticity checks and ID information extraction to provide developer tools for businesses.
It allows consumers to share login credentials and verified government documents with the companies and institutions that require them for verification.
The company is currently running an early access program and set for a full release of its product release scheduled for May this year.
“This is just the beginning, said “Passbase’s founder and product head Felix Gerlach in a Medium post. “With our developer-focused products and consumer privacy tools, we are reimaging how user identification, data ownership, and digital identity should work.
“At Passbase, we are aiming to build a system that empowers people with a universally trusted digital identity that is portable between services. Our plan is to give people back the power by letting them keep control of their most sensitive data.
“This, in turn, helps businesses to streamline onboarding, protect their platforms from bad actors, and worry less about complying with modern-privacy regulations.”
Earlier this month, authentication service platform Scytale secured $5m in funding from investors including Bain Capital Ventures, TechOperators and Work-Bench.