Ipsidy Raises $3.1M Ahead of Planned IPO

We appreciate the continued support of our existing investors and are delighted to welcome new investors who share our vision. We are starting the process of preparing the Company for an uplisting to a national exchange in due course, which we believe will be in the best interests of the Company and stockholders.” – Philip Beck, Chairman & CEO, Ipsidy

Ipsidy Raises $3.1M Ahead of Planned IPO

Biometric identification specialist Ipsidy has raised $3.1 million in a recent funding round, and is on course for a forthcoming debut on a national exchange.

The funding came in via subscriptions of common stock, and saw contributions from both existing investors and “a number of new investors,” according to a statement from the company. Ipsidy says the development represents “a significant step” in fundraising activities required for management’s 2019 business plan.

Part of that plan may be an IPO. Commenting on the efforts, Ipsidy CEO Philip Beck revealed that Ipsidy’s management “are starting the process of preparing the Company for an uplisting to a national exchange in due course”. Beck added that Ipsidy’s leadership believe such a move “will be in the best interests of the Company and stockholders.”

News of these plans comes after Ipsidy reported dramatically improved year-over-year results in its Q1 update for 2019 last month, showing a 41 percent increase in revenues. It also arrives after Ipsidy’s launch of a new biometric time and attendance tracking app, further underscoring the company’s ambitious growth plans.

June 25, 2019 – by Alex Perala