Total amount raised
$10 Millions
Latest funding date
11/01/2024
Location
Equal Identity has established itself as a key player in the identity verification industry, offering a range of solutions that cater to consumer, employee, and business workflows. The company provides seamless access to over 50 ID providers and 4000+ APIs, ensuring a high success rate and robust fraud detection.
With a focus on trust, convenience, and consent, Equal Identity's platform is trusted by some of India's largest businesses. Keep reading to explore the intricacies of Equal Identity's fundraising journey and the investors backing this innovative platform.
What Is Equal Identity?
Equal Identity is a company specializing in identity verification solutions, serving industries such as Real Estate, Healthcare, IT Services, and Banking & Financial Services. Their platform is designed to be highly customizable, secure, and compliant with various regulations.
They offer a range of products including Gateway, Personalised Gateway, Connect, and Face, which cater to different identity verification needs. Trusted by many top companies in India, Equal Identity emphasizes trust, convenience, and consent in their services.
How Much Funding Has Equal Identity Raised?
- Amount Raised: $10M
- Date: November 2024
- Lead Investors: Prosus Ventures, Tomales Bay Capital, Keshav Reddy
- Valuation at Round: $80M
- Motivation Behind the Round: To scale operations, forge strategic partnerships, and develop a secure and transparent digital framework.
Total Amount Raised: $10M. Current Valuation: $80M.
Key Investors
- Prosus Ventures
- Details: Prosus Ventures is a global consumer internet group and one of the largest technology investors in the world. They have a significant presence in various markets, investing in innovative technology companies.
- Investment Focus Areas: Technology, consumer internet, digital infrastructure
- Notable Investments: Tencent, Delivery Hero, Swiggy
- Tomales Bay Capital
- Details: Tomales Bay Capital is a venture capital firm that participates in funding rounds for innovative startups. They have a diverse portfolio, focusing on high-growth potential companies.
- Investment Focus Areas: General venture capital investments, technology, data-sharing platforms
- Notable Investments: Zupee
- Keshav Reddy
- Details: Keshav Reddy is the founder of Equal and comes from the GVK family. He has a background in venture capital, guiding investments across numerous tech firms.
- Investment Focus Areas: Technology, financial services, consumer tech
- Notable Investments: CRED, Upstox, Hive
- Blume Ventures
- Details: Blume Ventures is an early-stage venture fund that backs startups with funding and support. They are known for their hands-on approach in nurturing young companies.
- Investment Focus Areas: Early-stage startups, technology, innovation
- Notable Investments: Unacademy, Dunzo, HealthifyMe
- DST Global
- Details: DST Global is a global investment firm focused on late-stage internet companies. They have a track record of investing in some of the world's most successful tech companies.
- Investment Focus Areas: Late-stage internet companies, technology, digital platforms
- Notable Investments: Facebook, Alibaba, ByteDance
What's Next for Equal Identity?
Equal Identity stands at the cusp of significant growth, driven by the increasing demand for secure and transparent digital platforms. With a robust framework integrating over 50 ID databases and 4,000 API providers, the company is well-positioned to scale operations and form strategic partnerships. The recent $10 million funding round, led by prominent investors, underscores the vast opportunities in the identity verification and data-sharing sectors.
Future fundraising appears promising, given the successful Series A round and the involvement of high-profile investors. This financial backing will likely fuel further expansion and technological advancements. However, challenges such as regulatory compliance, data security, and competition from established players remain. Navigating these hurdles will be crucial for Equal Identity as it aims to revolutionize the industry.
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