SpruceID Analysis: $34M Raised
What is SpruceID?
SpruceID offers solutions for verifiable digital credentials, empowering users to manage their identity and personal data in digital interactions.
Product Features & Capabilities
- Credible (end-to-end solutions for verifiable digital credentials), SpruceKit (open-source libraries for integrating digital credential capabilities), Issuing Digital IDs (high assurance identity credentials), Issuing Digital Passes & Permits (digital permits and credentials), Issuing Data Supply Ch
Pricing
- The services are currently free.
- SpruceID reserves the right to charge for certain or all services in the future.
How much SpruceID raised
1: - $34 million
April 20, 2022Lead Investor: Andreessen Horowitz, Y Combinator, Okta Ventures, and others.
Who are the founders of SpruceID
WC
Wayne Chang
Founder
GR
Gregory Rocco
Founder
Market Focus
SpruceID primarily focuses on the identity management and digital credentialing industry, providing verifiable digital credentials that enable users to control their identity and personal data across digital interactions.
Business Model
Business model focuses on decentralized identity solutions; revenue model not disclosed.
Competitors Overview
SpruceID operates in the digital credentialing and identity management market, where its main competitors include:
- HYPR:
- Overview: HYPR specializes in identity security and passwordless authentication solutions. Their platform focuses on continuously detecting and preventing identi
Investors
- Andreessen Horowitz (a16z)
- Okta Ventures
- SCB 10X
- Robot Ventures
- OrangeDAO
- Ethereal Ventures
- Electric Capital
- Y Combinator
- Protocol Labs
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