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Passbase

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Passbase
Type
Private
ISIN🆔
IndustryIdentity verification services
Founded 📆2018
Founder 👔
Headquarters 🏙️,
New York City New York State
,
USA
Number of locations
New York City, USA; Berlin, Germany
Area served 🗺️
Key people
Mathias Klenk (CEO); Dave McGibbon (COO); Felix Gerlach (CPO)
ServicesIdentity Verification Services
Members
Number of employees
30+
🌐 Websitepassbase.com
📇 Address
📞 telephone

Passbase provides identity verification services to businesses that need to verify people's identities through photo-based identification documents and a selfie. The company's software uses machine learning algorithms to provide businesses with liveness detection, facial comparison and ID authenticity verification. The company was founded in 2018 by Mathias Klenk, Felix Gerlach, and Dave McGibbon and received a total of $4.2 million in funding from investors including Seedcamp, Eniac Ventures, Cowboy Ventures, and Lakestar Ventures. Passbase is headquartered in New York City and has a Berlin office.

History[edit]

Mathias Klenk worked together with Felix Gerlach on a project that became the company Coinance, a cryptocurrency app.[1][2] Coinance was discontinued with the launch of Passbase as an identity management service[3] with Klenk, Gerlach, and McGibbon as co-founders.[4][5]

In 2019, the company raised $600,000 pre-seed round from the investment firms Seedcamp and Upheal Investments[6][7][8] and a $3.6 million seed round funding from seed investment firms Cowboy Ventures, which is headed by Aileen Lee and Eniac Ventures as well as from Seedcamp and Lakestar.[9][10]

Services[edit]

Passbase offers an online digital identity verification service that can be integrated through client-side and server-side software development kits (SDKs) for iOS, Android, HTML and Javascript, React Native. The service performs identity verification and authentication when a user takes photos of government-issued photo ID documents and a selfie video. The submitted images and selfie video uses OCR to perform facial comparison and check the ID document's authenticity.

Accolades[edit]

In March 2020, Gerlach, Klenk, and McGibbon were featured in Forbes' annual 30 Under 30 list for the Finance industry[11]

CB Insights included Passbase in its Cyber Defenders 2020 list[12] and was one of the top 3 Security businesses in Inc Magazine's Best in Business 2020 list.[13]

Community Engagement[edit]

In March 2020, the company gave priority integration support and waived all subscription fees for any company dedicated to helping individuals get through the COVID-19 crisis.[14]

In June 2020, the company provided identity verification service for the LGBTQ event Las Vegas PRIDE to perform age verification for attendees to age restricted events, while maintaining the participants' privacy.[15]

Passbase is part of the Coalition for App Fairness (CAF), an advocacy group co-founded by Epic Games in 2020, pushing for increased regulation over app stores, namely Google and Apple, for anti-competitive behavior.[16][17]

External links[edit]

References[edit]

  1. "TUM School of Management graduates in search of investors in Silicon Valley". Technical University of Munich - School of Management. 2018-08-23. Retrieved 2021-02-08.
  2. "Mathias Klenk, ein Startup mit Heidenheimer Wurzeln – Start-up Ostwürttemberg". www.startup-wow.de. Retrieved 2021-03-01.
  3. "ada-Magazin: Das Ende der Passwörter ist nah". www.handelsblatt.com (in Deutsch). Retrieved 2021-03-01.
  4. "INNOVATIVE START-UPS IN SECURITY". Forbes (in Deutsch). Retrieved 2021-03-01.
  5. Mrz 2019, Steve Haak 14 (2019-03-14). "Sie wollen Online-Identifikation weniger lästig machen". Business Insider (in Deutsch). Retrieved 2021-03-01.
  6. Janson, Daniel. "Passbase is building a full-stack identity engine with privacy baked in | Baltic Magazine". Retrieved 2021-02-08.
  7. Loritz, Mary (2019-03-15). "London-based Passbase raises €530k for its digital identity verification solution that emphasises user privacy". EU-Startups. Retrieved 2021-02-08.
  8. "Passbase closes pre-seed funding round of £400k". Prolific London. 2019-03-19. Retrieved 2021-03-01.
  9. "Passbase grabs $3.6M to power privacy-preserving online ID checks". TechCrunch. Retrieved 2021-02-08.
  10. "Passbase". Forbes. Retrieved 2021-03-01.
  11. "30 Under 30 Europe 2020: Finance". Forbes. Retrieved 2021-02-08.
  12. "Emerging Cyber Security Trends & Startups in 2020". CB Insights Research. Retrieved 2021-02-08.
  13. "Inc.'s 2020 Best In Business Report". Inc.com. Retrieved 2021-02-08.
  14. "Online ID verification is seeing a spike in demand driven by COVID-19". TechCrunch. Retrieved 2021-02-08.
  15. Team, USA TV News (2020-10-02). "Las Vegas Pride Teams Up With Passbase To Maintain And Increase The Safety Of Its Community | USA TV News". Retrieved 2021-02-08.
  16. "Coalition for App Fairness, a group fighting for app store reforms, adds 20 new partners". TechCrunch. Retrieved 2021-03-01.
  17. "Members". Coalition for App Fairness. Retrieved 2021-03-01.

Category:Companies based in Berlin Category:Companies established in 2018 Category:Software companies based in New York City Category:Software companies based in New York (state) Category:Identity management systems


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