ID.me, a digital identity platform trusted by more than 152 million users, has raised $340m through its Series E round and a recently secured credit facility, pushing its valuation beyond $2bn.
The Series E was led by Ribbit Capital, with participation from existing backers Ares Credit funds and Moonshots Capital. New investors, including Positive Sum, also joined the round.
ID.me provides a reusable digital identity wallet that allows individuals to verify their identity once and use it seamlessly across multiple websites. The technology, which meets the federal standards set by the U.S. Commerce Department, is widely adopted by federal and state agencies, healthcare providers, consumer brands and employers. The firm has been approved by the Kantara Initiative as a NIST 800-63-3 IAL2 / AAL2 credential service provider.
The new funding will be channelled towards expanding access to secure digital identity services and accelerating the fight against AI-driven fraud, which has become an increasingly pressing concern.
The company has already demonstrated its ability to stop fraud at scale. During the pandemic, seven U.S. states credited ID.me with preventing more than $270bn in unemployment fraud. More recently, Virginia’s employment agency saw a 173% rise in digital claims and a 57% drop in call centre volumes after integrating ID.me’s verification system, cutting costs and reducing strain.
In 2024 alone, ID.me added 20.4 million new wallets, averaging over 55,000 each day, and powered more than 409 million logins, marking a 44% increase compared with the previous year. The platform now supports 152 million users—nearly 60% of US adults—20 federal agencies, 45 state agencies, over 70 healthcare organisations, 600 consumer brands, and 500 employers.
ID.me founder and CEO Blake Hall said, “Fraud is evolving at the speed of AI—and so are we. Secure identity is foundational to AI ecosystems that will depend on memory, context, and authentication, and ID.me is leading the charge. This funding strengthens our ability to expand secure digital access, protect privacy, and innovate faster to stay ahead of criminal networks.”
Ribbit Capital general partner Justin Saslaw said, “We believe the AI revolution will reshape the global economy, and identity will be its foundation.
“As AI agents become ubiquitous, trusted identity tokens will enable secure, seamless interactions between people, organizations, and machines. ID.me has built one of the most advanced and widely adopted digital identity wallets in the world, giving it a durable advantage in creating and scaling the identity tokens that will power this new era. We’re excited to partner with Blake and the ID.me team as they expand their leadership in the token-driven AI economy.”
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