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Identiq raises $5M in funding for identify verification startup

Identiq, an Israeli startup specializing in anonymous verfification of digital identity, said it raised $5 million in seed funding led by Entree Capital.

The funding round was assisted by Slow Ventures, Vertex Ventures and Oryzn Capital.

Company officials said Itendiq uses a unique distributed network system that allows new users to have their identities verified by using a distributed network that negates the need for personal user data.

The company said its technology does not share, store or collect any user data at all. The company says its Fully Anonymous Identity Resolution technology is encrypted in a way that uses other members to verify identity, while maintaining the privacy of users.