authID completes $8.2M equity fundraise and creates advisory board

authID has closed a direct offering, raising $8.15 million in gross proceeds from just over 1.8 million shares and pre-funded warrants sold at $4.50 each to put towards general corporate purposes.

Co-placement agents for the offering were Madison Global Partners and Dominari Securities LLC, and authID CEO Rhon Daguro welcomed Dominari Holdings and its CEO Kyle Wool as a new partner in the company.

authID has also created an advisory board consisting of Eric Swider and Donald Nitti.

“In the last eighteen months, authID has educated the market to the point where customers no longer ask what biometric authentication is, but rather how it can transform their business,” says Daguro. “Concerns over privacy and the advanced aspects of biometrics were an early obstacle, but now our clients are applying our technology to new challenges, expanding our footprint. This next exciting phase of our journey has been made possible by our foundational partners, David Lerner and Madison Global Partners, who have guided us over the years and were instrumental in this offering.”

Article Topics

authID  |  biometrics  |  digital identity  |  investment  |  stocks