PlainID closes off strong year with an $11m funding round

PlainID, a developer of authorisation solutions, has collected $11m in a funding round, coming after a strong year of growth.

The investment was supported by a mixture of new and existing investors, including Viola Ventures, INcapital Ventures, Capri Ventures, iAngels, Springtide Ventures and Vintage Investment Partners.

PlainID offers an authorisation management platform that helps firms govern, administer and control those accessing assets on a digital landscape.

The platform enables companies to modernise their technology with improved decisions.

Over the past year, PlainID claims to have seen more than 300% in customer growth during 2020.

PlainID CEO and co-founder Oren Harel said, “We’re thrilled to welcome INcapital Ventures and Vintage Investment Partners to the PlainID family.

“The ‘last mile’ of Identity and Access Management (IAM) is Authorization. Historically, it has been a point of contention for companies in the remote-everything era but not anymore. With this new funding, we intend to accelerate our growth into new geographical markets and continue to lead by building new authorization solutions to serve our customers.”

Copyright © 2020 FinTech Global

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