Digital identity wallet ID.me has hit a $2 billion valuation after raising $340 million across a funding round, combined with a credit facility.
The Series E was led by Ribbit Capital, with participation from Ares Credit funds, Moonshots Capital, and Positive Sum.
ID.me is a digital identity wallet that stores and manages users' personal information, helping them to prove their ID online seamlessly across websites.
The firm has secured deals with US government agencies and claims that seven states credited it with preventing more than $270 billion in unemployment fraud during the pandemic. In 2024 it added 20.4 million new wallets and now has 152 million users, representing nearly 60% of US adults.
With fraudsters now weaponizing AI tools like deepfakes to exploit vulnerabilities faster than ever, the company says the latest funding will help it expand access to secure identity.
Blake Hall, CEO, ID.me, says: “Fraud is evolving at the speed of AI—and so are we. Secure identity is foundational to AI ecosystems that will depend on memory, context, and authentication, and ID.me is leading the charge.
"This funding strengthens our ability to expand secure digital access, protect privacy, and innovate faster to stay ahead of criminal networks.”