Dive Brief:
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McLean,Va. company ID.me Inc., whose digital identity card system makes it easy for military veterans, teachers, and other specialized groups to securely validate their credentials online, has garnered $7.5 million in new venture funding and $2.5 million in venture debt financing.
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Overstock.com, Carhartt, Under Armour, and Sears department stores are accepting ID.me to give their military customers discounts for online purchases.
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The funding comes on the heels of a two-year, $2.8 million grant from the U.S. Department of Commerce’s National Institute of Standards and Technology for technology that helps bolster “consumer trust in online transactions.”
Dive Insight:
ID.me offers its service for specialized groups requiring valid identification, like military personnel or veterans, teachers, students, and first responders--even employees at a certain company. It's also an opportunity for retailers to give such groups a specialized loyalty program. These kinds of offers can go even farther than boosting the loyalty of these groups, however. When consumers see retailers doing the right thing for deserving members of the community, they themselves may see these companies in a more favorable light.