Yesterday, identity firm Evernym said it raised $8 million in a pre-series A funding led by Barclays Ventures and Medici Ventures. The latter is the blockchain arm of Overstock.com and said it invested $2 million in the self-sovereign identity firm.
Founded in 2013, Evernym initiated the public
Sovrin Network for identity. Both organizations aim to get wider adoption of self-sovereign identity (SSI) standards, which put users in control of their data. In the future, the hope is to avoid larges silos of personal data that are attractive to hackers. A great example is Equifax and the infamous hack that exposed the data of 148 million people.
“Evernym is bridging the gap between the siloed approach to identity and true self-sovereign identity. Evernym’s platform allows every person, organization, and connected thing to have an independent identity,” said Jonathan Johnson, Overstock.com CEO and president of Medici Ventures.
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