Identiq offers a privacy-first fraud prevention service built on a peer-to-peer network that lets companies validate whether a new customer is known or trusted by other businesses without exposing sensitive user data. The platform uses cryptography to enable anonymous vetting among participating online stores, helping to identify fraudsters and scammers. Identiq says it already counts Fortune 500 companies among its customers and aims to capitalize on increased online spending driven by the pandemic. The company plans to use its recent funding to hire, grow its workforce, and scale support for international customers. The article frames Identiq’s approach within a large market opportunity, noting fraud prevention is projected to be a $145 billion industry by 2026. Identiq offers a distributed Anonymous Verification Network that lets member companies positively validate new users and vouch for known users without sharing any personal user data. Its FAIR (Fully Anonymous Identity Resolution) technology uses proprietary cryptographic protocols to obtain validation from other network members while preserving complete consumer privacy. The network verifies identity at critical moments in the customer journey, such as onboarding or first payment, by connecting data points like email, phone, address, IP, device and funding source. Identiq does not collect, share or store any user data, and its approach is presented as compliant with GDPR, CCPA and other privacy regulations. The company was founded in 2018 and is led by CEO Itay Levy alongside Uri Arad and Ido Shilon. Recently it completed a seed financing to advance its product and network growth.

Total raised

$52M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2021