Identiq, a Tel Aviv, Israel-based provider of an Anonymous Verification Network, enabling companies to work together to fight fraud, raised $5M in seed funding.
The round was led by Entrée Capital, with participants from Slow Ventures, Vertex Ventures Israel and Oryzn Capital.
Founded in 2018 and led by CEO Itay Levy, Uri Arad, and Ido Shilon, Identiq has created a distributed network allowing members to positively validate new users, and vouch for ones they already know, without sharing any personal user data whatsoever. Identity can be verified at critical moments in the customer journey, like onboarding or first payment, by making crucial connections between data points such as email, phone, address, IP, device or funding source, etc.
Identiq does not collect, share or store any user data whatsoever. Their FAIR (Fully Anonymous Identity Resolution) technology uses proprietary cryptographic protocols to obtain validation from other network members while preserving complete consumer privacy. This makes it compliant with GDPR, CCPA, and other privacy regulations.