SheerID snags $18M, Signicat secures $1.7M: Friday Deal Book for 01/27/2018

OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements from across the identity industry. Here’s a quick peek at what you need to know for the week ending Jan. 26, 2018.

SheerID gets $18 million in Series B

The investment round was led by Centana Growth Partners, and is expected to help drive adoption across digital commerce categories. SheerID is a provider of comprehensive digital verification services, instantly verifying the credentials of individuals or businesses with authoritative data sources. SheerID saw 112 percent year over year growth by the end of 2017, and newly added customers include Lowe’s, Target, Microsoft, Adobe, Sprint, and TOMS. [Read more]

Signicat gets €1.36 million from EU’s Horizon 2020

The phase two funding ($1.7 million U.S.) will be to develop its identity assurance as a service (IDaaS) tools for Europe. Signicat plans to create a fully-compliant identification assurance and digital onboarding toolbox that will be used by European financial institutions. Focuses for the second round of funding include electronic identity and digital verification of paper ID. Other technologies include registry lookup and facial recognition. [Read more]

Payfone, O2 team up to combat digital fraud in UK and Europe

Payfone is a digital ID authentication provider with an Instant Authentication for Mobile solution, already used by six of the top ten banks in the U.S. Its partnership with wireless carrier O2 will address growing demand for identity authentication services in the U.K. and Europe. Payfone’s solution works through a user’s existing mobile phone, allowing companies to eliminate two-factor authentication methods like SMS one-time passcodes and knowledge-based authentication. The service will use realtime authentication via O2 behind the scenes, with no need to install software. [Read more]

Dominode gets $1.3 million to accelerate development of the Dominode Digital Passport©

Dominode is a developer of verified identity solutions for regulated industries, closed a $1.3 million venture capital investment from New York-based Blockchange Ventures. Funding will accelerate development of the Dominode Digital Passport©, a suite of proprietary solutions to protect, secure and authenticate digital identity for professionals and businesses operating in regulated industries around the world. [Read more]