Seed Funding for Customer Identity Specialist Unum ID

In San Francisco, customer identity specialist Unum ID has closed a $2m seed round of financing, which it will use to 'aggressively' accelerate its sales and product development efforts.

Unum ID's software creates a single customer identity - bound to one individual in the off-line world - to help companies instantly know who is who online. This software ties an individual to their mobile device, and then ties that mobile device to the individual's online identities through cryptography. The firm says all personal information is stored only on each user's mobile device, embedding user consent and providing privacy and security.

The round was led by Draper Associates, with participation from TappanHill Ventures, Wedbush Ventures, Hard Yaka, and a number of angel investors; bringing Unum ID's total funding since launch to $3.2m. Tim Draper, founding partner of Draper Associates, comments: 'We all spend so much of our lives verifying our identity online. It's frustrating as a user and expensive for companies. Unum ID makes it instant and inexpensive, and I can't wait to see it everywhere'.

Founded by brothers Liam and Aidan McCarty (pictured), Unum ID is online at www.unumid.org .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.