ShoCard Inc.

blockchain

STATUS: Acquired/Merged
FOUNDING YEAR: 2015
LOCATION: United States
Last Update: 18/02/2021

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About

ShoCard is a digital identity and authentication platform built on a public blockchain data layer, using public/private key encryption and data hashing to safely store and exchange identity data, which includes biometrics such as fingerprint, facial, iris and voice. ShoCards approach to identity is different than existing solutions in that the user owns and carries her own data within her mobile app and is the sole person who decides with whom to share it with and which pieces of identification to share. The blockchain in then used to validate that information and confirm other third parties who have definitively certified the identity of the user. There is no privately held central location that holds users private information and pieces of a users identification does not need to be spread in other services in order to authenticate or prove ownership of an account. The mobile app is as easy and intuitive to use as a drivers license, but secure enough for a bank.

MEDICI Analysis

ShoCard is a virtual identity card platform that consumers use through a mobile app, built on top of the public blockchain data layer. The ShoCard platform uses public/private key encryption and data hashing to safely store and exchange identity data. It’s a form of multi-factor authentication with out-of-band communication, data matching, and multiple private keys and hashes throughout the process.

Focus

PRODUCTS & SERVICES

ShoCard is a virtual identity card platform

REVENUE MODEL

The company is planning to partner with Banks. The company monetization model is not disclosed but the company can charge processing fee from banks

MAIN CLIENTS

consumers and business

Traction

VALUATION / MARKET CAP:

$10 M in 2015

COMPANY TYPE:

For Profit

People

FOUNDERS

Jeff Weitzman

Armin Ebrahimi

BOARD MEMBERS AND ADVISORS

Ash Patel

NUMBER OF EMPLOYEES

1-10

INVESTORS:

AME Cloud Ventures

Correlation Ventures

Danhua Capital

Digital Currency Group

Enspire Capital

Morado Venture Partners

Recruit Strategic Partners and Robert Tinker

Storm Ventures

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

2

TOTAL FUNDING

$6 M

DATE OF LAST FUNDING

Aug 2017

IPO STATUS

Private

ESTIMETED REVENUE RANGE

Less than $1M

SEED & PRIOR FUNDING

$1.5 M

FUNDING SERIES

SERIES A  · $4.5 M  · Aug 2017

LISTED

NO

company provided insights
Acquisitions

M&A

ACQUIRED BY

Ping Identity

ANNOUNCED DATE

Oct 2020

PRICE

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company provided insights
Web Traffic

Web Traffic

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