OneID, a San Jose, CA-based provider of digital identity solutions, has raised $7m in funding.
The round was led by Khosla Ventures and North Bridge Venture Partners.
The company intends to use the new capital to bring its service to market for use by identity providers, ecommerce businesses, enterprises, governments and individuals.
Founded in 2011 by Steve Kirsch, OneID provides a digital identity solution that aims to help consumers eliminate the need for multiple usernames and passwords and help online businesses reduce the friction, fraud and costs associated with authentication and financial transactions.
In addition to the funding, the company also appointed Alex Doll, former executive at PGP Corp., as CEO. Founder Steve Kirsch will move into the role of CTO, focusing on the development of the OneID service, and remain on the company’s board of directors.
Shirish Sathaye, general partner at Khosla Ventures and Jonathan Heiliger have joined the OneID board of directors.