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Veridas folds in dasGate, raises €15M from partners for ambitious global expansion

Categories Biometrics News  |  Trade Notes
Veridas folds in dasGate, raises €15M from partners for ambitious global expansion
 

Veridas has incorporated previously-independent company dasGate and collected 15 million euros (approximately US$16.5 million) from its partners to support its ambition to take a top-three position in the global identity market within the next five years.

The company is positioning itself as a global provider of physical and digital identity management, and expects its revenues to double this year, to €26.3 million ($28.8 million). It also plans to grow to 278 employees. The company had 160 employees as of half-way through last year.

dasGate supplies access control gates with face biometrics software provided by Veridas, and have been deployed to a soccer stadium in Spain, amongst other customers. Similar systems have also been implemented to prevent underage people from accessing gambling facilities, according to the announcement.

Now dasGate’s technology has been integrated with Veridas portfolio of modular solutions. That portfolio, which also includes voice biometrics and ID document verification, can be combined in various ways to address any identification scenario, Veridas says. dasGate gas about 150 employees.

“We are a global company with a presence in Spain, Mexico, the United States, United Kingdom and we continue to expand with new customers, thanks to the differential value proposition in our industry,” said Eduardo Azanza, CEO of Veridas. “There are not many companies in the world that can verify and authenticate the identity of users in the digital and physical space while simultaneously offering customers a complete identity platform. Veridas was created to guarantee the right to use real identities in the digital and physical world. We envision a future without passwords and keys where people are privately, securely, and voluntarily identified.”

Azanza says the company’s ambitious growth goals are achievable due to the strength of its team and technology.

Veridas appointed a new CMO at the beginning of this year, following an aggressive overseas expansion in 2022.

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