Today we are excited to publicly announce that NuID raised $1.64 million in seed funding earlier this year. We are honored to have the support and confidence of Jemison Investment Company, 8VC, and several angel investors. Drew Oetting, a founding partner at 8VC, has joined us as an advisor along with Stephan Roche, COO of the investment office for Bill and Melinda Gates. We would like to thank our supporters for believing in our vision for decentralized authentication and digital identity.
Perhaps even more exciting is what we’re doing with it. With this funding we have begun scaling our engineering team to build out the core NuID protocol—look out for more on that soon. We have also been busy fielding interest from potential clients that would like to use our technology for user authentication and crypto-asset custody. Our CEO Locke Brown has been on the road recently, attending the Money2020 fintech conference last week, participating at the Internet Identity Workshop, and speaking on a blockchain panel at the Post Expo event in Geneva. Finally, we are gearing up for an exciting opportunity in December to pitch NuID’s authentication solution to over a dozen businesses seeking to implement innovative and experimental security technologies.
We see a bright future ahead for a more secure digital identity paradigm. Recent events like the Equifax breach and Yahoo’s new announcement on the scale of a 2013 attack have reaffirmed our mission to return data ownership to the individual. Decentralizing sensitive user data, starting with the information we use to prove who we are online, will protect businesses and individuals from increasingly devastating large-scale breaches. We’re excited to be working with our investors and the broader blockchain and security communities to build a safer, user-centric future.
Interested in learning how our technology could protect your business and users? Want to join forces or be part of the NuID team? Get in touch!