Today we are very excited to announce the recent closing of our equity seed funding round! With the support of our lead investor Jemison Investment, as well as participation from 8VC and both new and existing strategic angel investors, we raised $2.5 million at a pre-money valuation of $20 million. This round follows our convertible note fundraising in early 2017.
(Press release for this announcement here.)
Spencer Lacey, investment director at Jemison, will join NuID co-founders Locke Brown and Nolan Smith on our board of directors. We are thrilled with the partnership we have built with Jemison and grateful for the support of all our investors, advisors, and the broader community. We would not have made it to this milestone today without the help and confidence of so many, for which we are truly humbled.
“NuID has pioneered a novel approach to a secure authentication ecosystem. We believe that Locke and his team have built a powerful product that will help end mass credential breaches.” — Spencer Lacey
The timing of this new funding will allow us to move into 2019 with a clear focus on bringing our technology to the market. We’ll save the wrap-up and reminiscing for our year-end update in January, but suffice it to say we have been very busy building a solid product and business foundation for scale in the new year. This new investment enables us to continue growing the team and building out features and integrations to support a new model of trustless enterprise authentication.
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