Ipsidy gets $10 million standby line of credit with major investor

By Mary-Katherine Stinson

Lexington, Ky., March 21 – Ipsidy, which does business as authID.ai, secured $10 million of borrowing capacity under a standby line-of-credit facility with an existing major investor, according to a press release Monday.

The new financing was part of a total financing round of $22.5 million before fees, commissions and expenses.

This financing is projected to meet working capital requirements through 2023, and the company stated that management believes it will have positive cash flow on a current basis entering 2024.

Long Beach, Calif.-based Ipsidy is a provider of secure, mobile, biometric identity verification software products through an easy-to-integrate identity as a service platform.

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