authID achieves 12x year-over-year growth 2x faster than planned

authID announced the Company experienced record year over year growth in sales of 1,200% for its biometric identity authentication platform. The company also bolstered its financial position by completing financing rounds in May and November 2023, securing a combined $17.6 million in gross proceeds and a debt-to-equity conversion of almost $9 million. Record sales momentum followed the mid-year appointment of Rhon Daguro as CEO, the reconstitution of its Corporate Board of Directors, and the August appointment of Ed Sellitto as CFO. Together they transformed the company into a high-performance technology and sales organization that solves for major identity authentication challenges. “This level of sales growth in such a short period attests to the market’s concerns around the security and authentication breaches attributed to compromised passwords and devices that dominated 2023 headlines, and which are predicted to continue in 2024. In an all-digital world centered around identity, generative AI is expected to increase the effectiveness and frequency of fraud attacks while lowering the bar for launching those attacks,” said authID CEO Rhon Daguro. “authID is dedicated to ensuring enterprises ‘Know Who Is Behind the Device’ to prevent cybercriminals from performing account takeovers and seizing assets, while delivering the fastest and easiest user experience.”