Digital identity startup Passbase has bagged $600k in pre-seed funding led by a group of business angel investors from Alphabet, Stanford, Kleiner Perkins, EY; as well as seed fund investment from Chicago-based Upheaval Investments and Seedcamp.
The 2018-founded Silicon Valley-based startup — whose co-founder we chatted to briefly on camera at Disrupt Berlin — is building what it dubs an “identity engine” to simplify identity verification online.
Passbase offers a set of SDKs to developers to integrate facial recognition, liveness detection, ID authenticity checks and ID information extraction into their service, while also baking in privacy protections that allow individual users to control their own identity data.
A demo video of the verification product shows a user being asked to record a FaceID-style 3D selfie by tilting their face in front of a webcam and then scanning an ID document also by holding it up to the camera.
On the developer front, the flagship claim is Passbase’s identity verification product can be deployed to a website or mobile app in less than three minutes, with just seven lines of code.
Co-founder Mathias Klenk tells TechCrunch the system architecture draws on ideas from public-private key encryption, blockchain, …read more
Source:: Tech Crunch Funding and Exits