Market Insights

ChainLink collects $32M, Ever earns $16M: Friday Deal Book for 9/22/2017

OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements in the identity industry. Here’s a quick peek at what you need to know for the week ending Sept. 22, 2017.

Photo storage company Ever raises $16 million Series B, launches facial recognition service
The round was led by Icon Ventures, with participation from existing investors Felicis Ventures, Khosla Ventures. The company announced Ever AI, a set of enterprise APIs for visual intelligence capabilities such as face verification, face identification, age detection, gender detection, and emotion detection. Today the company has over 12 billion images from its 11-million-strong consumer base. Ever API is available through a self-hosted API that lets organizations use Ever’s software on their own infrastructure, and also through a mobile SDK that can bring those models to smartphones. Facial recognition technology continues to drop in price, ushering in an era where sophisticated facial recognition capabilities are available on the mass market. With a patchwork regulatory structure, companies may find themselves out of compliance with regulations such as Illinois’s Biometric Information Privacy Act. [Read more]

Authentication provider InBay Technologies raises $1 million
The round was led by Ramphastos Investments and an Ottawa-based super angel represented by Tongda One Partners Ltd. InBay Technologies intends to use the funds to accelerate the commercialization of its idQ Trust as a Service digital identity platform. The company provides a mobile app based multi factor authentication platform for enterprise use. With a number of new entrants into the authentication market, distribution and sales strategy — more than the technology component — are likely to drive success in this ever increasingly crowded sales market. [Read more]

IMM and Wacom ink partnership to provide e-signature capabilities to financial institutions
IMM is a provider of software e-signature solutions while Wacom provides electronic signature hardware. Together, the two hope to provide a new generation of displays for financial institutions to eliminate paper based documents for in-branch experiences. IMM’s existing e-sign platform integrates with many financial institution’s existing business applications including lending and account opening. The companies are betting that bank branches won’t be disappearing any time soon, but rather looking at incremental cost savings by digitizing middle and back office functions. [Read more]

ChainLink raises $32 million from crowdsale to connect blockchains to external data
Blockchain startup ChainLink raised a total of $32 million through its presale and initial coin offering. The company drew criticism from members of the ethereum community for how it advertised the number of available coins between the presale and ICO. ChainLink aims to build a solution to expand smart contracting capabilities by allowing smart contracts to dynamically link to off chain external data from a variety of data feeds. [Read more]

WISeKey launches blockchain based digital identity platform
Cybersecurity and IoT giant WISeKey has announced the launch of CertifyID — a new platform that integrates digital identity with blockchain technology. The platform integrates both government issued digital identity capabilities, as well as multi factor authentication. WISeKey hopes that the technology can be used as a digital watermark for online transactions of any asset. The company is already working towards an implementation of CertifiyID in a partnership with the Government of Andhra Pradesh, the seventh largest state in India. [Read more]