Merit Grabs $50M Series B To Expand Digital Credentials Platform

Jan 12, 2022•almost 4 years ago

Amount Raised

$50 Million

Round Type

series b

Miami

Description

When we think about identity in the digital world, it usually involves a username and password, but Merit (originally called Sigma) wants to help governments issue digital credentials that link back to a government license database with the goal of bringing an end to flimsy paper cards.

Company Information

Company

Merit

Location

Miami, Florida, United States

About

Today the company announced a hefty $50 million Series B. The company spent the last five years working with various governments to build connectors to these licensing databases to allow third parties to access the data and have it update automatically. In just one month, the company built a system for verifying which vendors and personnel were allowed onto the site, a project that involved verifying the identities of more than 16,000 people, according to the company. For now, at least, the company has to work directly with each government entity that it makes a deal with. Today, the company has around 70 employees with plans to get to around 100 by the end of the year.

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83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Merit Grabs $50M Series B To Expand Digital Credentials Platform

Description

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Company Information