Identiq, an Israeli startup specializing in privacy-focused fraud prevention, has raised $5 million in a funding round to expand its innovative solutions. The company’s decentralized network allows businesses to validate the identity of customers without sharing personal information. Also Identiq tackling one of the biggest challenges in the digital space—securely preventing fraud while safeguarding privacy.

Identiq funding round led by Vertex Ventures with participation from Horizon Capital, which led the pre-seed round, and other strategic investors. Since its founding, Identiq has drawn attention for its unique approach to fraud prevention, helping businesses reduce risk without compromising sensitive user data.

Yaniv Jacobi, Managing Partner at Horizon Capital, emphasized the importance of privacy in the growing world of digital commerce:

“Identiq’s decentralized identity verification network addresses the increasing demand for security without sacrificing privacy, something we’ve believed in from the start. We are proud to support their mission as they continue to scale.”

Identiq raises $5M and plans to use the funding to expand its network, enhance its technology, and onboard more global clients.

For more about Identiq Raises $5M:
Globes: Identiq Raises $5 Million for Fraud Prevention

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ABOUT IDENTIQ:

Identiq has created a distributed network allowing members to positively validate new users without sharing any personal user data whatsoever. Identity can be verified at critical moments in the customer journey by making crucial connections between data points such as email, phone, address, IP, device, funding source, etc. This new approach leads to more accurate decisions, lower decline rates, reduced fraud, and better user experience for consumers.

Until now, solutions attempted to validate identity information using large databases of private and personal user information, which by nature involve the risk of data being shared without user consent, or even stolen. Companies using these centralized solutions must expose their own user data, putting them at risk of breach-by-proxy, disclosing trade secrets, and violating privacy regulations.