Comment on IdentityMind Raises $10m, Outlines Expansion Plans by IdentityMind Raises $10m, Outlines Expansion Plans | Btcoin news

ADVERTISEMENTS

Shift.Cash

Share with:

A platform that builds, maintains and analyzes digital identities, IdentityMind Global announced, on Wednesday, that it has closed a USD 10 million round of financing. The new round was co-led by Benhamou Global Ventures and Eastern Link Capital and included Hanna Ventures, Overstock.com, and Zanadu Capital Partners.

Overstock.com CEO Patrick Byrne said, in a statement: “IdentityMind has been at the forefront of helping companies navigate the regulatory compliance waters of the fast-growing, multi-billion dollar cryptocurrency and ICO industry. ICOs and cryptocurrencies are going mainstream, and IdentityMind is one of the key players in helping ensure transparency, legitimacy, security and compliance which will only lead to faster and greater marketplace adoption.”

The funds will be used to drive expansion in Asia, Latin America, and Europe, said the company in a statement. Funds will also be used to build the company’s new business unit, which is dedicated to providing know your customer (KYC) and anti-money laundering (AML) solutions to address the regulatory and compliance requirements of the initial coin offering (ICO) and cryptocurrency markets.

IdentityMind provides a platform that builds, maintains and analyzes digital identities worldwide, allowing companies to perform identity proofing, risk-based authentication, regulatory identification, and to detect and prevent identity fraud, according to the company’s statement. As well as AML and KYC, the platform provides transaction-monitoring, sanctions-screening and fraud-prevention solutions.

advertisement

Due to increasingly frequent identity theft, data breaches and a corresponding loss of personally identifiable information, demand for identity-based solutions is exploding, says IdentityMind. According to the 2017 Norton Cyber Security Insights Report, cyber-criminals were responsible for incurring USD 172 billion worth of damages to 978 million consumers in 20 countries in 2017.

“The market demand for digital identity-based solutions in today’s global digital economy is booming,” said the company’s CEO, Garrett Gafke, in a stement. “IdentityMind, the pioneer in digital identities, with hundreds of customers spanning six continents, is uniquely positioned to meet growing global market demand.”

For more information, visit the company’s website: https://www.identitymindglobal.com

  • IdentityMind Raises $10m, Outlines Expansion Plans – February 16, 2018
  • EQUI Platform Enables Anyone to Make a Crypto-Powered Investment – February 15, 2018
  • IoT Platform Augmate to Promote Blockchain Development in Mexico – February 14, 2018
  • BnkToTheFuture Brings Charlie Shrem on Board for ICO, Whitelisting Ends Today – February 13, 2018
  • Unity App Store for SE Asia Gamers Is Focus of $30m ICO led by Aetius Capital for Cloud Alliance – February 12, 2018
  • Lino Raises $20m to Eliminate the Middleman in Video Streaming – February 9, 2018
  • Cognizant Report: 88 Percent of Asia Pacific Financial Service Organizations See Blockchain as a Game-Changer – February 8, 2018
  • Soccer’s Next Evolution? London Football Exchange to Launch ICO – February 7, 2018
  • IdentityMind Releases Know-your-customer Tool for ICOs – February 5, 2018
  • Crypto Fantasy: Football-Stars Platform Goes Blockchain – February 1, 2018
  • 30-strong Startup Consortium Launches 22X Fund, Raises £22m in ICO Presale – January 31, 2018
  • “ICO boutique” Chaineum Launches a Hush Alternative to Banking – January 30, 2018
  • Dash Digital Currency now Offered on Mercury Exchange – January 25, 2018
  • Bloomio Launches Token-based Crowdfunding Platform With Ambitions to Redesign VC – January 24, 2018
  • Simple Token Lists on Singapore, Hong Kong Exchanges and Doubles User Base – January 23, 2018
  • Ambrosus Taps Wattenhofer to Develop Project – January 19, 2018
  • Mark Cuban-Backed Current Media to Launch ICO – January 17, 2018
  • Saifu Taps Thales for Crypto Banking Security – January 12, 2018
  • Coinsilium Ups Its Stake in Indorse’s Decentralized Social Network – January 10, 2018
  • Jibrel ICO Announces $30M Raise – January 9, 2018
  • IOTA Announces Smart City Partnership – January 7, 2018
  • Taylor Crypto Trading Bot Announces ICO – January 4, 2018
  • Ripio Credit Network Partners With OKLink in Payments Tie-Up – January 4, 2018

View All Articles

advertisement