ID.me uses a B2B2C model in which government agencies, healthcare organizations, and commercial brands pay for identity verification services for end consumers, with revenue coming from per-verification fees and subscription plans. The platform combines AI-driven document forensics, NIST 800-63-3 compliant multi-factor authentication, and liveness facial recognition to create a portable identity that reduces user friction and lowers partner acquisition costs. Over 156 million users experience streamlined sign-in and identity verification with ID.me at 21 federal agencies, 50 state government agencies, and more than 70 healthcare organizations, with more than 600 consumer brands using ID.me to verify communities and user segments.
Cyborg Score Rationale
ID.me raised $340 million in September 2025 at a valuation exceeding $2 billion, combining a $65 million Series E equity round and a $275 million credit facility. The company disclosed that revenue grew over 450% from 2020 through 2024. Market leadership in federal identity verification, coupled with expanding healthcare adoption, provides significant scale potential, though privacy concerns and competition from established players present ongoing headwinds.
Top Insights
Government and public-sector contracts (including long-term SSA and VA deals) represented approximately 45% of Annual Recurring Revenue (ARR) in 2025.
In 2024, the platform added 20.4 million new wallets and supported 409 million authenticated logins, up 44% year-over-year.
Operationally, approximately 90% of users complete automated verification in under five minutes, while a large video chat verification operation handles nonstandard cases and underserved populations.
Researchers have raised concerns about lack of evidence of accuracy, false negatives which prevent dark-skinned or transgender people from accessing their own information, and false positives which let third parties impersonate a taxpayer to access tax information.
Named Competitors
Onfido — Document verification and biometric identity proofing
Veriff — AI-powered identity verification and compliance
Socure — Digital identity verification and fraud prevention
CLEAR — Biometric identity verification for physical and digital access
Entrust — Digital identity and credential management for government
Recent Developments
(September 2025) Raised $340 million combining $65 million Series E equity funding and $275 million credit facility at >$2 billion valuation led by Ribbit Capital
(January 2025) Secured $275 million credit facility from Ares Management with planned substantial equity investment
(December 2025) Reached 157 million total users, 80 million verified to federal IAL2 standards with 409 million authenticated logins in 2024 (44% YoY growth)
(April 2023) Closed $132 million Series D funding round
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