While Ke$ha may have removed the dollar sign from her name, money dominated the news this week. From startups getting funding, to a new managing director of a popular angel group, and a unique pitch event coming back to DC.
Tysons-based ID.me raised $7.5M from USAA, Blu Venture Investors, and angels. Another $2.5M in venture debt came from Silicon Valley Bank. Founder Blake Hall, left, with co-founder Matt Thompson, says the company, which started as TroopSwap in 2012, has been able to woo clients like Under Armour and Overstock.com. It started as a daily deals service for the military but has since evolved to offering validation for military and law enforcement who can receive discounts from online retailers.
Blake says one project in the works: ID validations for government agencies like the VA that interact online with consumers. The 31-person company is also working on building an online marketplace of retailers that use ID.me. He admits making a poor choice choosing the daily deals business initially since it hadn’t been proven yet. He’s learned to be more deliberate in creating a sustainable business model and focused on what he had innovated--which was being able to verify a person’s identity. Blake also hinted that the company might be outgrowing its Tysons space.
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