Q5id Closes $10 Million Funding Round to Accelerate Growth of Identity Proofing Platform

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Q5id, a leader in identity proofing services, announced that it has closed its latest round of funding: $10 million in private investment led by the global investment banking firm Canaccord Genuity.

Identity theft and fraud continue to accelerate and harm both consumers and businesses.

Q5id, a leader in identity proofing services, announced that it has closed its latest round of funding: $10 million in private investment led by the global investment banking firm Canaccord Genuity. The latest round of funding brings Q5id’s equity funding to $25.5 million since the company’s inception in 2018.

“Identity theft and fraud continue to accelerate and harm both consumers and businesses. This latest round of funding will enable us to continue to enhance our patented identity proofing platform and protect businesses and consumers from identity fraud,” said CEO and founder Steve Larson.

“Q5id solves a serious problem for both businesses and consumers. They offer best of breed identity proofing and their biometric authentication is unmatched in the marketplace. We are very excited to be a part of Q5id’s growth,” said Jamie Brown, Managing Director, Head of Investment Banking – Western Canada at Canaccord Genuity.

Q5id offers a patented, multi-factor proven identity management platform. Using the Q5id app on a smartphone, in less than 3 minutes, consumers can have their identity proving. Once enrolled with a Q5id proven identity, consumers use their unique biometrics to authenticate their identity in seconds when conducting any number of transactions across multiple industry verticals. It is the most robust and comprehensive identity proofing and authentication solution in the market.

About Q5id
Q5id’s mission is to provide consumers and businesses with the most robust Proven Identity Management solution available. Through a comprehensive, powerful and frictionless biometric enrollment and authentication process, Q5id meets every customer and proves their digital identity is secure, preventing identity theft and fraud. Founded in 2018, Q5id is headquartered in Hillsboro, Oregon. For more information, visit https://q5id.com.

About Canaccord Genuity Group, Inc.
Through its principal subsidiaries, Canaccord Genuity Group Inc. (the “Company”) is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has Wealth Management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. The international capital markets division operates in North America, the UK & Europe, Asia, Australia and the Middle East. Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX.

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Brian Fravel
Q5id
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