Ipsidy raises $3.1M and prepares for listing on national exchange

Ipsidy has raised approximately $3.1 million in equity funding through subscriptions for common stock, in what the cloud biometrics platform provider calls “a significant step” in its 2019 fundraising.

Existing investors, members of the company’s Board and management team, and an unspecified number of new investors participated in the subscriptions, according to the announcement.

“We appreciate the continued support of our existing investors and are delighted to welcome new investors who share our vision,” said Philip Beck, Chairman and CEO of Ipsidy. “We are starting the process of preparing the Company for an uplisting to a national exchange in due course, which we believe will be in the best interests of the Company and stockholders.”

Ipsidy which rebranded from ID Global Solutions Corporation in February, 2018, jumped from the OTCQB Venture Market to the OTCQX Best Market last May, and has since seen steady growth in revenue from its cloud biometrics services platform. The company also released a time and attendance app earlier this month.

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