French start-up Id5 has raised $6 million in a funding round led by Alliance Entreprendre, with participation from Progress Ventures and existing investor 360 Capital Partners. Id5 is an independent provider of digital identity solutions, founded in England in 2017 by Mathieu Roche, Pierre-Antoine Durgeat, and Scott Menzer, before moving its headquarters to Lille in 2019.
The company develops infrastructure that allows online advertising to remain addressable while respecting consumers' privacy and personal data. In less than three years, Id5 has managed to convince hundreds of ad tech platforms and publishers, and now reaches over 600 million consumers every day.
With this latest funding round, the start-up will continue to invest in its IT infrastructure, develop new products, and expand its staff across France, Germany, England, and Poland. They aim to have 26 employees by the end of the year.
Alliance Entreprendre is a French investment firm that specializes in funding small and medium-sized businesses. Progress Ventures is a US-based venture capital firm that invests in early-stage technology companies. 360 Capital Partners is a European venture capital firm that has invested in several successful start-ups, including JobToday and Yoox Net-a-Porter.
This investment will help Id5 strengthen its position in the digital identity solutions market and continue to develop innovative solutions that respect consumers' privacy. The demand for such solutions is expected to grow as more countries introduce privacy regulations, such as the EU's General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA).