ID.me, the digital identity wallet trusted by more than 152 million users, has raised $340m through a Series E financing round and a new credit facility, valuing the company at over $2bn.
The funding was led by Ribbit Capital, with support from Ares Credit funds, Moonshots Capital and new investor Positive Sum.
Founded to simplify secure digital sign-ins, ID.me lets consumers verify their identity once and use it across multiple platforms without creating repeated logins. The company’s technology meets federal authentication standards and is approved by the Kantara Initiative as a credential service provider.
The latest cash injection will help ID.me expand access to secure identity services and bolster its defences against AI-driven fraud.
The platform has already prevented large-scale fraud. During the pandemic, seven U.S. states credited it with stopping more than $270bn in fraudulent unemployment claims. Virginia’s employment agency also saw a surge in digital claims and a major reduction in call centre traffic after adopting the service.
In 2024 alone, ID.me added 20.4 million new wallets, processing over 409 million logins. Today it supports 152 million users, 20 federal agencies, 45 state agencies, 70 healthcare groups, 600 consumer brands and 500 employers.
ID.me founder and CEO Blake Hall said, “Fraud is evolving at the speed of AI—and so are we. Secure identity is foundational to AI ecosystems that will depend on memory, context, and authentication, and ID.me is leading the charge. This funding strengthens our ability to expand secure digital access, protect privacy, and innovate faster to stay ahead of criminal networks.”
Ribbit Capital general partner Justin Saslaw said, “We believe the AI revolution will reshape the global economy, and identity will be its foundation.
“As AI agents become ubiquitous, trusted identity tokens will enable secure, seamless interactions between people, organizations, and machines. ID.me has built one of the most advanced and widely adopted digital identity wallets in the world, giving it a durable advantage in creating and scaling the identity tokens that will power this new era. We’re excited to partner with Blake and the ID.me team as they expand their leadership in the token-driven AI economy.”
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