Virginia-based digital ID network ID.me scores $10M in funding to build own marketplace
Secure digital ID card developer ID.me has received $10 million in new funding for its marketplace project. The said round consists of $7.5 million in venture cash and $2.5 million in debt, according to Digital Media Wire.
Military financial services provider USAA was the lead investor of the equity investment in ID.me. Blue Ventures and Angels also participated in the funding. Silicon Valley Bank, on the other hand, provided the loan for the company, the report detailed.
Washington Business Journal cited ID.me Chief Executive Officer (CEO) Blake Hall sharing his plans to use the new capital to "create a marketplace and discovery platform, where the end users can see all the different offers that are available to them."
Hall also said a dynamic sorting feature is being planned for the future platform. The main goal for the funding is to enhance user experience, the report added.
Formerly known as TroopID, the Virginia-based firm rebranded as ID.me in 2013 when it started tapping non-military sectors. The company's current customers include Overstock.com, Under Armour, and Sears, Digital Media Wire reported.