World’s Leading ID Card Network Concludes Key Strategic Funding to Expand to Millions of Digital ID Cards

SAN FRANCISCO, July 15, 2022 /PRNewswire/ — Unique IDthe digital ID card network, raised a $2 million strategic round table led by 1414 Companies and Outlierswith the participation of Clothier associates, TappanHill Ventures, and others. This round of funding will solidify Unum ID’s position as a leader in reusable identity, driving the growth of thousands to millions of verified digital ID cards to solve the cold start problem of reusable identity.

“We are on the eve of a digital identity revolution,” says the founder Aidan McCartyrecently named Forbes 30 Under 30 with brother and co-founder Liam McCarty. “Soon you’ll be able to prove who you are with just one click, anywhere online. Our dream is that you’ll never have to fill out a form again; instead, you’ll present a verified digital ID.”

Unum ID’s patent-pending technology leverages a first-of-its-kind web wallet to securely store and share digital identity – no app downloads or software installations required. Users receive digital ID cards from issuers in less than 10 seconds and can leverage these cards to instantly register with any relying party. It’s as easy as clicking “Continue with 1-Click” and consenting to share the required data – reducing onboarding time from 6 minutes to 6 seconds. This solves the biggest problem for financial services, which sees more than 30% dropout in account creation.

“Unum ID gives each person control over their information, but ultimately it’s about meeting a business need,” says Bradley Hinson, Comics Manager at Unum ID. We have dramatically reduced dropout rates with amazing UX. One-click onboarding – who wouldn’t want that?” The company is growing rapidly, with dozens of FinTechs expect online to access the service. They choose partners selectively, cementing relationships with leading fintech, financial services, and IOT players that cover more than 90% of American adults.

The reusable identity space is booming despite the bear market. McKinsey and Liminal predicted the industry would be worth over $100 billion by the end of the decade, and Unum ID is leading the way – generating powerful network effects to unlock the long-term value of reusable, tokenized IDs.

Redundant user identities permeate almost every industry, requiring a unified identifier to consolidate disparate records into one. You have 137 passwords, 215 usernames, 3 credit cards and 2 bank accounts – but there’s only one you. You should have a digital ID. You should have a Unum ID.

Unique ID is the network of digital identity cards. As the global leader in reusable identification, the company unlocks seamless and secure one-click enrollment, application and login across industries. Unum ID is supported by Franklin Templeton, Samsung, Draper Associates and a range of world-class angel investors and advisors. Its founders were named Forbes 30 Under 30 in 2021.


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