Digital identity wallet ID.me has achieved a $2 billion valuation following a $340 million funding round, complemented by a credit facility.
The Series E funding was led by Ribbit Capital, with contributions from Ares Credit funds, Moonshots Capital, and Positive Sum. ID.me provides a digital wallet that securely stores and manages users’ personal information, enabling them to prove their identity online across various platforms.
The company has established partnerships with U.S. government agencies, claiming that its services helped seven states prevent over $270 billion in unemployment fraud during the pandemic. In 2024, ID.me added 20.4 million new wallets, bringing its total user base to 152 million, which accounts for nearly 60% of U.S. adults.
As fraudsters increasingly leverage AI tools like deepfakes to exploit vulnerabilities, ID.me asserts that the latest funding will enhance its efforts to provide secure identity solutions. CEO Blake Hall remarked, “Fraud is evolving at the speed of AI—and so are we. Secure identity is foundational to AI ecosystems that will require memory, context, and authentication. ID.me is leading the charge. This funding will strengthen our ability to expand secure digital access, protect privacy, and innovate faster to stay ahead of criminal networks.”