ID.me rakes in $132M to expand biometric service access, portable digital ID
ID.me has taken the opportunity of appointing a new CFO to reveal that it has raised $132 million in a series D financing round.
The funding round was led by Viking Global Investors, with CapitalG, Morgan Stanley Counterpoint, FTV Capital, PSP Growth, Auctus Investment Group, Moonshots Capital, and Scout Ventures participating. ID.me did not specify what the funds will be put to, but Greenberg refers in the announcement to the increasing importance of portable digital identity and the need to extend access to underserved communities.
Greenberg has previously served as CFO of house rental platform Mint House, and brings 20 years of experience as a financial operations leader to ID.me, according to the announcement. She also founded a hedge fund and led it to SEC registration, and is a frequently speaks at conferences about technology.
CEO Blake Hall says that announcing the investment when it was received so that it would not be “a distraction,” according to Washington Business Journal.
At the time, the company was dealing with the fallout from a rapid but troubled rollout to support pandemic benefits dispersal. That fallout included accusations by U.S. senators that it carelessly handled biometric data.
Hall says in the announcement that the funding round, hiring of Greenberg, and onboarding of 100 million members to use its digital wallet represent “big milestones toward our vision to streamline access to benefits and services while ensuring no identity is left behind.”
ID.me hired Rajat Bahri as CFO just before unveiling its $100 million series C in September of 2021, before replacing him with Brinker in August of last year.