ID.me Raises $275M in Financing

ID.me, a leading digital identity wallet provider, has announced the closure of a $275 million credit facility provided by Ares Management. This significant financing is accompanied by Ares’ plan to make a substantial equity investment in ID.me. The deal follows the company’s $132 million Series D round and marks a pivotal moment in ID.me’s growth trajectory, as the company continues to revolutionize how individuals securely prove their identity online.

The $275 million credit facility is part of a broader investment strategy by Ares Management, which also includes a substantial equity investment in ID.me. ID.me has experienced remarkable growth, with its revenue increasing by over 450 percent from 2020 to 2024. The company has enrolled over 139 million users in its digital wallet, with more than 65 million verified to federal standards of IAL2 consumer authentication. This growth comes amid increasing demand for secure digital identity solutions, and follows a White House executive order promoting digital ID adoption.

ID.me is the only digital wallet that meets federal government standards for secure login and multi-factor authentication, offering online, video chat, and in-person identity verification options at NIST Identity Assurance Level 2. The company has recently strengthened its leadership team with the appointment of new board members from GitLab and Sysdig, bringing additional cybersecurity expertise to its operations. ID.me’s technology is used by 19 federal agencies, 44 state government agencies, and 66 healthcare organizations. Additionally, over 600 consumer brands use ID.me to verify user segments.

“This credit facility provided by Ares, combined with its anticipated equity investment, provides substantial capital to accelerate our roadmap and growth strategy, scaling ID.me to the next phase of growth and sustainable profitability,” said Blake Hall, Founder and CEO of ID.me. “Coming soon after our recent secondary tender, we are pleased that esteemed institutional investors are recognizing our market-leading outcomes expanding digital access, protecting privacy, fighting fraud, and ensuring frictionless user experience.”

Ares Management is a global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, and real estate asset classes.

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January 31, 2025 – by the ID Tech Editorial Team