raises $10m from venture and angel investors


dollar 20_sqDigital identity specialist has raised a $10m funding round to fund its marketing and product development efforts.

The round, which included $7.5m in equity and $2.5m in venture debt, was led by USAA, Silicon Valley Bank and angel investors including David Tisch’s Box Group, Kelly Perdew, K Street Capital, and Blu Venture Investors.

Prior to the round, had raised $6m since its launch in 2010 in addition to a $2m federal grant from the President’s National Strategy for Trusted Identities in Cyberspace. CEO Blake Hall said, “ has a simple mission: to make the web a more trusted place by increasing transparency between organizations and consumers through secure, digital ID cards.

“USAA is one of the most trusted brands in the world because of their unwavering commitment to serving their members, the U.S. military and their families.

“We’re looking forward to working with USAA so that military families may access the benefits they’ve earned – online and offline – in a secure and privacy-enhancing manner.”

Last December AltAssets reported that Silicon Valley Bank was seeking $125m for its new venture capital fund.

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