ID.me provides a digital wallet and identity verification services. It puts users in control of data and how they use the digital wallet to access benefits and services. The company offers a range of services, including Digital Wallet that allows access to government services and benefits; Identity Verification; Government Services; Discounts and Cash Back providing big discounts and cash backs from over 5,000 stores; and Prescription Services that enable savings of up to USD 95 per prescription through the Rx Card.
ID.me operates on a B2B and B2C sales model. It provides special discounts for military personnel, nurses, teachers, medical providers, first responders, and EMT and government employees. Moreover, any savings obtained through the ID.me Rx Program cannot be combined with insurance, Medicare, Medicaid, and other discounts in a single transaction.
Key customers and partnerships
ID.me has partnerships with 31 states, multiple federal agencies, and over 500 name brand retailers. Moreover, it has over 112 members and is accepted by more than 600 partners. Shopify is considered to be the company’s largest partner. Meanwhile, it serves a customer base across the retailers, healthcare, financial services, and travel and leisure industries, as well as government agencies. Apple, Amazon, Yeti, Lenovo, and Ford are among ID.me’s customers.
Funding and Financials
ID.me raised USD 132 million from its latest funding round in April 2023. This was a Series D round led by Viking Global Investors, and the funds raised were used to build the company’s secure digital identity network.
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