Passbase grabs $3.6M to power privacy-preserving online ID checks
Digital identity startup Passbase has closed a $3.6 million seed round, led by Cowboy Ventures and Eniac Ventures, with participation from Seedcamp and other European investors.
The 2018 founded startup bagged a $600k pre-seed round earlier this year for its full-stack identity engine with a privacy twist.
The latest tranche of funding will go on growing the team and sales channels in the US and Europe, says co-founder Mathias Klenk. “Our goal is to build an API-first company, so building a strong core organization is key for us to be able to fully focus on securing partnerships with complementary services,” he tells TechCrunch.
“By the end of next year, we aim to have our consumer application rolled out so that individuals can leverage the core value proposition of our service and businesses can reap the rewards of seamless reauthentication,” he adds. In terms of clients, our goal is to move up in scale and conduct pilots with some of the larger players in our target segment.”
Passbase launched an open beta in May and has been running tests over the summer, according to Klenk, who says around 15 companies have been actively testing the platform — claiming 300+ businesses have
This post was originally published on this site