ID.me Gets $340M in Series E to Scale, Tackle Deepfake Fraud

A digital identity provider led by a former U.S. Army rifle platoon leader raised $340 million on a $2 billion valuation to fight AI-powered fraud.

See Also: Identity and Access Management (IAM) Market Guide 2025

ID.me said the Series E financing will help the Washington D.C.-area provider take on state-sponsored and well-funded threat actors using deepfakes and stolen identities to penetrate government and corporate systems, said Chief Revenue Officer Chris Mills. ID.me plans to invest aggressively in R&D, new verification products, and expanding the breadth of its orchestration layer and signal intelligence.

“We wanted to ensure that the company is extremely well-capitalized so that we can continue to invest in our product, accelerating our product and engineering road map, in particular, because in the fight against AI-led fraud, the stakes have gotten so high,” Chief Financial Officer Samantha Greenberg told Information Security Media Group.

ID.me, founded in 2010, employs 1,116 people and notched a valuation of $2 billion in conjunction with the company’s latest funding round, up from the valuation associated with ID.me’s Series D round in 2023. The company has been led since its inception by Blake Hall, who served as a rifle platoon leader in the U.S. Army from 2004 to 2008, led over 450 combat patrols in Iraq and received two bronze stars (see: Update: Amid IRS’ Pullback, ID.me Offers Alternative Solution).

Why ID.me Aims to Create an Identity Verification Layer

Organizations are realizing they often lack even basic identity documentation – such as photos or biometrics – of employees post-onboarding, Mills said. ID.me aims to create a comprehensive identity layer that spans from recruiting to long-term employment, helping companies verify not only who they hire but who continues to access their systems months later.

“This isn’t your Nigerian prince email that has poor language, et cetera, that you got in your Hotmail account or AOL account,” Mills said. “This is showing up with American citizens’ stolen PII they can get off the darkweb. They can immediately take over the voice and your facial recognition.”

Nation-state actors, particularly from China, are leveraging deepfake technologies and stolen personal data to scale attacks in ways that weren’t possible before. To stay ahead, ID.me must continually invest in advanced fraud detection, biometric verification and orchestration technologies. The company is doubling down on human-in-the-loop systems, using both AI and human intelligence to counter AI-driven threats.

“We need to keep up,” Mills said. “They’re using AI, and we need to invest and continue developing our resources to fight the advancement of AI there with some of not only the largest agencies, but also the largest corporations in the country.”

Specifically, Mills said ID.me aims to create an identity verification layer that stretches across the entire employment lifecycle, integrating with over 300 existing platforms used by enterprises. The company’s vision is to prevent account takeovers, validate employee access over time and provide enterprises with continuous assurance that the people inside their networks are legitimate, Mills said.

“We can guarantee that you are who you say you are, and really, provide more security to those CISOs around who is actually in their organization,” Mills said.

From Payment Wallets to Identity Wallets

Just as payment wallets such as Apple Pay and Google Pay digitized financial interactions, identity wallets will digitize and secure how we prove who we are online and offline, Mills said. ID.me views scale and trust as critical to becoming the de facto provider of identity verification, especially in government and large enterprise partnerships where risk mitigation is paramount, Mills said.

“If you want to become the digital wallet standard of the United States, you’ve got to have the size to show those entities that you will sustain and you are going to make it for the long haul,” Mills said. “[The Series E round] is a big, significant number that decreases the risk profile for some of these very large entities looking at investing in ID.me.”

ID.me is taking on the epidemic of fraudulent businesses using shell company registrations to claim benefits like unemployment insurance, Mills said. He said traditional tools like EIN verification are insufficient, prompting ID.me to build new organizational verification technologies that include both automated checks and manual research, like scouring websites and LinkedIn profiles.

ID.me has had to combine manual research including address lookups, web searches and LinkedIn checks with advanced backend integrations to verify legitimacy. Mills sees this as a necessary investment to expand ID.me’s role from individual to institutional identity verification, which is especially relevant in state-level unemployment and benefits systems where fake businesses are a rampant attack vector.

“We thought using our capabilities to do integrations and APIs, we could just get EINs,” Mills said. “Unfortunately, 40% of businesses cannot be identified just with EIN, so it wasn’t just building an integration. We have to actually do some product work, as well as manual interventions, to actually determine if a business is valid or not. And so that’s extra funding and capabilities required to do that.”