#United States #San Francisco #Digital Security #AI Authentication #Glide Identity

Glide Identity Secures Over $20 Million in Series A Funding

Glide Identity, a forefront company in digital identity security, has successfully completed a Series A funding round, collecting over $20 million, primarily led by Crosspoint Capital Partners. Additional backing has come from Amigos Venture Capital, Singtel Innov8 Ventures, and distinguished figures such as Sir Ronald Cohen. This funding round elevates Glide's total financing to over $25 million, approaching a critical juncture in addressing security challenges faced in digital commerce.

In recent years, the rise of cyber scams has been alarming. According to reports from the Federal Trade Commission, U.S. consumers were victims of fraud, resulting in losses totaling $12.5 billion in 2024, marking a staggering 25% increase over the previous year. This uptick correlates with the prevalence of complex online shopping experiences, where around 70% of online shopping carts are abandoned due to intricate checkout processes and issues with digital trust. All while the weak landscape of password security continues to exacerbate these challenges.

To combat these deficiencies, Glide Identity aims to replace outdated and vulnerable security methods like one-time passwords with a robust SIM-based cryptographic authentication. The technology guarantees that user identity can be verified without effort through secure signals transmitted via mobile carrier networks, eliminating the risk of phishing and social engineering attacks. Instead of submitting codes sent via SMS, consumers can seamlessly authenticate themselves, reinforcing security and significantly reducing friction in the user experience.

Andre Fuetsch, managing director of Crosspoint Capital and former CTO of AT&T, emphasized the urgency with which Glide is addressing these evolving security challenges. Fuetsch noted that Glide has made significant strides with enterprise clients, underlining the concern shared across various industries regarding fraud prevention amidst rising AI threats. As fraud techniques become increasingly sophisticated, Glide's innovative solutions aim to stay one step ahead of malicious actors.

The advent of AI threatens the effectiveness of traditional security paradigms. Techniques like voice cloning and deepfakes mean that old standards, such as passwords, have become ripe for compromise. With AI systems now capable of managing transactions on behalf of users, Glide is acutely aware of the new risks emerging alongside this technological evolution. The growing recognition of these challenges by Glide’s partners and clients underscores the pressing need for robust solutions that are as advanced as the threats themselves.

"As we approach the era of Artificial General Intelligence (AGI), securing human identity becomes paramount, and the timeline to achieve this is rapidly diminishing," stated Eran Haggiag, the founder and CEO of Glide Identity. Haggiag highlighted the importance of collaboration across sectors, including telecommunications, technology giants, and regulatory bodies, to fortify the universal infrastructure necessary for secure identity management.

In pursuit of its goals, Glide Identity is dedicated to developing secure and user-friendly authentication systems. Collaborating with esteemed telecommunications providers and platforms like T-Mobile and Google Cloud, Glide works to deliver next-generation security solutions that align with consumer expectations.

The expertise provided by Crosspoint Capital will be invaluable as Glide seeks to innovate and expand its offerings. Alongside an array of other investors, such as Amigos Venture Capital and Fidelity International Strategic Ventures (FISV), Glide aims to recognize and go beyond market needs with essential digital security provisions.

The sentiment among investors is overwhelmingly positive. Mattias Rejman, co-founder of Amigos Venture Capital, remarked on Glide’s ambition to harness telecommunications capabilities to build a seamless authentication experience for users, enabling a safer future as AI continues to influence consumer transactions.

Furthermore, Glide Identity is set to host a pivotal panel discussion on "Agentic Authentication" at Authenticate 2025, highlighting innovative discussions on improving identity verification amidst the AI evolution. As information security plays an ever-increasing role in the technology landscape, Glide prepares to lead in identifying and resolving the complexities inherent in this sector.

To explore more about Glide Identity’s advancements and mission, visit glideidentity.com. In a time where digital risks pose considerable challenges, Glide Identity is dedicated to establishing an essential framework for AI-era security, ensuring safety for all digital interactions.