ID.me Secures $275 Million Financing from Ares Management
- Editor
- Jan 30
- 1 min read
What's Happening: ID.me, a leading digital identity wallet provider, has closed a $275 million credit facility provided by Ares Management funds. Ares also plans to make a substantial equity investment in ID.me. This financing comes as ID.me experiences significant business momentum, with over 139 million users signed up for its digital wallet.
The Key Moves:
ID.me has secured a $275 million credit facility from Ares Management funds.
Ares Management plans to make a substantial equity investment in ID.me.
ID.me has signed up over 139 million users for its digital wallet, with 65 million verified to federal IAL2 standards.
By The Numbers :
ID.me's revenue has grown over 450% from 2020 through 2024.
ID.me is used by 19 federal agencies, 44 state government agencies, and 66 healthcare organizations.
Ares Management has more than $464 billion in assets under management as of September 30, 2024.
Key Quotes:
"This credit facility provided by Ares, combined with its anticipated equity investment, provides substantial capital to accelerate our roadmap and growth strategy," said Blake Hall, Founder and CEO of ID.me.
"ID.me is a category and thought leader in the digital identity space," stated John Clark, Principal at Ares Management.
"As the world continues to be transformed by AI and vectors of fraud proliferate, we believe that ID.me's digital identity wallets will become increasingly important," added John Clark.
The Bottom Line: The $275 million financing from Ares Management positions ID.me for continued growth in the digital identity space. With its expanding user base and partnerships across government and healthcare sectors, ID.me is poised to play a crucial role in secure online identity verification and fraud prevention.
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