ID.me Lands $3.7 Million Grant

Last week, digital identity network ID.me received a grant from the National Institute of Standards and Technology. The company was awarded a $3.75 million through a program called the National Strategy for Trusted Identities in Cyberspace which focuses on researching new forms of identity management.

The Virginia-based company is one of six grant recipients that received a cut of $15 million, which was divided into amounts from a little under $1 million to $3.75 million. ID.me will use the funds to pilot what’s known as federated credentials, a single set of credentials that works on multiple websites.

According to the National Strategy for Trusted Identities’ director, Mike Garcia, the goal of the program is to “foster innovation that can make critical services more convenient and trustworthy for consumers while strengthening online security.”

ID.me’s Blake Hall (CEO & Co-Founder) and Ryan Fox (VP Product Strategy) presenting at FinovateSpring 2014

Founded in 2010, ID.me offers a way for people to prove special group affiliations (military, student, paramedic, etc.) online to receive special promotions offered to their group. At FinovateSpring 2014 the company’s CEO & co-founder Blake Hall demonstrated how ID.me captures identity attributes without creating additional friction at checkout.

ID.me has received more than $17 million in funding from investors such as Silicon Valley Bank, USAA, and Scout VC. In 2014 the company acquired student discount platform Perkla.

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