21 November, 2019

Evernym raises $8 million to advance its market-leading position in self-sovereign identity

The investment marks a new chapter for Evernym, as customers have begun to deploy the first live decentralized identity solutions.

(Salt Lake City, UT – Sep 26) – Evernym, a market leader in Self-Sovereign Identity solutions, announces today that it has closed an $8M pre-series A funding round with investors including Barclays Ventures and Medici Ventures.

Evernym, founded in 2013, offers a Self-Sovereign Identity platform that enables organizations and governments to issue, accept, and verify credentials that operate like a digital passport. Most interactions over the internet are underpinned by an identity system that remains fragmented and insecure; this solution will finally address the problem of how to prove who you are online.

“When Evernym was founded, Self-Sovereign Identity was just a concept. Now it has become a reality, and we are beginning to see adoption,” commented Evernym President Steve Havas. “This additional capital will enable us to scale our offerings as businesses everywhere start to see what a future built on trust looks like.” Evernym’s digital credential platform (Verity) enables organizations to interact with their customers more easily and securely while empowering consumers to control their personal data.

Ben Davey, CEO of Barclays Ventures, commented, “At Barclays Ventures, we believe in Evernym’s mission and objectives. Evernym’s solution has the potential to profoundly change and simplify the way organizations interact with their customers digitally. We are looking forward to working with Evernym as it expands and drives adoption.”

Jonathan Johnson, Overstock.com CEO and president of Medici Ventures commented, “Evernym is migrating enterprises from the traditional siloed approach of identity to true Self-Sovereign Identity. Medici Ventures is proud to add Evernym to our global keiretsu of companies as we are impressed by the traction Evernym’s team has achieved in the identity space already and believe their vision aligns closely with our core values.”

Evernym has been at the forefront of Self-Sovereign Identity technology since its inception and has worked with over 50 organizations to take the concept from theory to reality. These organizations include ATB Financial, Barclaycard, Deutsche Telekom, Novartis, CULedger, Irish Life, Telus, the U.S. Department of Homeland Security, and three Canadian provinces.

In addition, Evernym is known as the inventor of Sovrin and for being the original contributor to the open-source Hyperledger Indy project at the Linux Foundation. The Sovrin Network now counts over 70 corporates and large organizations as stewards including Cisco, IBM, Deutsche Telekom and many other renowned institutions globally.

Evernym encourages startups, corporations, nonprofits, and governments to consider its Early Access Plan: https://www.evernym.com/plans/early-access/

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About Evernym

A market leader in Self-Sovereign Identity, Evernym develops software and applications to help organizations around the world build trusted, digital relationships. Evernym is the original creator of Hyperledger Indy, the Sovrin Network and the Sovrin Foundation. The company was founded in 2013 and is based out of Salt Lake City, Utah.

About Barclays Ventures

Barclays Ventures’ mission is to deliver new propositions and experiences to address the needs of existing and new customers – ultimately driving growth for our communities, our business partners and Barclays. We are building new technology-led businesses inside and outside the areas of traditional banking, through organic build-out, commercial partnerships and venture investments.

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards, and wealth management, with a strong presence in our two home markets of the UK and the US.

About Medici Ventures

Launched in 2014, Medici Ventures is a wholly-owned subsidiary of Overstock.com, Inc. created to leverage blockchain technology to solve real-world problems with transparent, efficient, and secure solutions. Medici Ventures has interests in a global keiretsu of groundbreaking blockchain-focused companies focused on building the foundation of a technology stack for civilization. Medici Ventures’ companies are introducing blockchain technology to industries including identity, land governance, money and banking, capital markets, supply chain, and voting. The company’s majority-owned financial technology company, tZERO, executed the world’s first blockchain-based stock offering in December 2016.

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