Identiq launches privacy-first identity validation network, raises $5m
Tel Aviv-based start-up Identiq has launched the Anonymous Verification Network, which enables companies to make more accurate decisions and combat fraud without sharing personal data, reports Jane Connolly.
Identiq has also announced a $5 million seed funding round led by Entrée Capital, with participation from VCs such as Slow Ventures, Vertex Ventures and Oryzn Capital.
The start-up says companies can validate new users with identity verification at key points in the customer journey and vouch for users they already know – but without sharing any personal data at all.
Identiq claims its FAIR (Fully Anonymous Identity Resolution) technology is the first solution designed to address growing sensitivities around data privacy. The solution uses proprietary cryptographic protocols to obtain validation from other network members, while preserving consumer privacy and remaining compliant with privacy regulations such as GDPR and CCPA.