ShoCard provides ShoBadge, a blockchain-based identity solution that removes the need for usernames and passwords to authorize enterprise network and data access. The product uses blockchain-based digital identity verification and authentication and can integrate with existing single sign-on systems such as Okta and Azure Active Directory. ShoCard has built a position in consumer identity management with customers that include banks, financial institutions, credit-reporting companies, airlines and other companies requiring user logins for websites and apps. The company is now using new funding to expand into the workplace and roll out its enterprise ShoBadge solution. ShoCard has raised $5.5M in total funding to date. The company is led by founder and CEO Armin Ebrahimi. ShoCard creates a digital identity card by certifying and storing identity documents on the blockchain so users can securely retrieve them and prove their identity. Users scan their identity document, sign it, and the mobile app generates a private/public key pair to seal the record. Records are encrypted, hashed and sent to a network of nodes running bitcoin software for later use. The company’s first use case targets bank and credit-card identification processes and it has chosen a B2B route. ShoCard aims to sign deals with banks and other sensitive institutions to enable workflows such as simplifying online purchases where users approve transactions with their phone. The company launched in the Battlefield at TechCrunch Disrupt NY, and the new funding will be used to grow the team and pursue partnerships.

Total raised

$6M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2017