Glide Identity, a digital identity security company, has raised an over $20 million Series A funding round led by Crosspoint Capital Partners with participation from Amigos Venture Capital, Singtel Innov8 Ventures and Sir Ronald Cohen to build an identity, authentication and verification platform ready for the AGI era. This round brings Glide’s total funding to over $25 million to date as the company races to solve digital commerce’s next major security challenge.
Glide’s technology replaces vulnerable one-time passwords with SIM-based cryptographic authentication that cannot be phished, intercepted or socially engineered. Instead of typing codes sent via text message, users authenticate through their mobile carrier’s network using secure signals that verify their identity without requiring any action.
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- Recent data from the Federal Trade Commission shows U.S. consumers lost $12.5 billion to scams in 2024, a 25% increase year-over-year. In addition, on average, 70% of online shopping carts are abandoned due to complex checkout processes, account friction and digital trust, resulting in billions of dollars of lost sales revenue each year. Weak or reused passwords are responsible for compromised credentials, as the barrier of passwords is easily beaten.
- Traditional authentication methods — such as typing passwords, entering codes, or answering security questions — place the burden on individuals to verify their own identities. Scammers have learned to exploit this human factor through the use of urgency, manipulation, sophisticated impersonation and AI.
said Andre Fuetsch, managing director of Crosspoint Capital and former CTO of AT&T.
AI has made traditional security obsolete. Voice cloning, deepfakes and text manipulation mean codes and passwords are no longer safe. At the same time, AI agents are starting to make purchases and manage accounts on our behalf, introducing a new layer of risk altogether. Glide’s early traction with customers and partners underscores both the urgency and the scale of this challenge.
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