StartX-backed UnifyID has agreed to an acquisition by Prove for an undisclosed amount.

UnifyID, a US-based authentication platform developer backed by Stanford University-affiliated Stanford-StartX Fund, has agreed to an acquisition by identity verification technology producer Prove.
Financial terms of the transaction have not been revealed.
UnifyID has built a passive authentication platform that verifies users’ identity through behavioural and environmental biometrics while safeguarding privacy.
Prove will integrate UnifyID’s technology into its own offering to provide multi-factor authentication services, enable passwordless logins, bolster customer support, thwart promotions fraud and reduce the reliance on one-time passcodes.
It will also use the combined offering to help clients comply with the EU’s payment services directive 2 (commonly referred to as PSD2 and branded open banking in the UK) and the strong customer authentication requirement mandated by PSD2.
The company had raised $23.4m in funding before the acquisition. It secured $20m in series A financing from Stanford-StartX Fund, Andreessen Horowitz, Accomplice Ventures and lead investor New Enterprise Associates in 2017.
Stanford-StartX Fund, Andreessen Horowitz and Accomplice Ventures had already supplied a total of $3.4m in seed funding previously.

Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).