Baselayer has raised $35 million in Series A funding led by M13 and launched an identity suite designed to verify AI agents, the people or organizations they represent, and the authority they have to conduct transactions.
The round includes participation from Torch Capital, Picus Ventures, Afore Capital and Socure’s Matt Thompson. Baselayer is extending its financial-services identity and fraud-prevention business into verification for software agents that act on behalf of customers and companies.
The Agentic Identity Suite addresses several checks within an agent-driven transaction: identifying the agent, establishing whose interests it represents, verifying its authorization and checking the counterparty. Baselayer describes the offering as an interoperable trust service intended to work across different agent platforms and transaction environments.
The company is also developing an agentic fraud consortium, using shared intelligence to help participating organizations recognize suspicious activity. Its existing business combines identity verification and fraud detection for financial institutions and payments companies handling customer onboarding and transaction checks.
Baselayer says it serves more than 2,300 financial institutions and payments companies, including roughly one in five U.S. financial institutions. It also says its services have prevented more than $1 billion in fraud. The company was founded in 2024 by chief executive Jonathan Awad and chief technology officer Timothy Hyde.
Its work on agent identity includes relationships with FIS, Prove and Socure, alongside companies building agent infrastructure and payments services. Baselayer also participates in the FIDO Alliance’s agent authentication work and other efforts to establish shared rules for identifying and authorizing software agents.
Other identity providers have introduced services addressing different parts of the same transaction process. Proof recently made a portable digital identity credential available to banks, allowing a verified person to present reusable cryptographic evidence of identity. Its x401 protocol is intended to connect an agent’s action to a verified person and a specific authorization.
Enterprise access controls are another area of development. Okta has expanded its AI agent governance platform to third-party identity providers, with functions for assigning human owners, applying access policies and logging authorization decisions. Baselayer’s new suite focuses on verifying the identities, delegated authority and counterparties involved when agents conduct transactions.
Sources: PR Newswire
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By the ID Tech Editorial Team
