PrivyID, a Jakarta-based startup that provides digital signature and universal identity services has recently raised $17.5 million in Series B funding.
The round was led by GGV Capital, a Global Venture Capital powerhouse, also joined by returning investors Telkomsel Mitra Inovasi, MDI Ventures, Gunung Sewu Group, and Mandiri Capital, along with participation from new investors- Buana Sejahtera Group and Endeavor Catalyst.
PrivyID aims to use the fresh funding to expand its information technology and security infrastructure, which is presently holding digitally signed documents and the digital identity of several enterprises, including multinational institutions like Manulife, Zurich, WWF, ISS, Phillip Morris, and Kelly Services.
Company: PT Privy Identitas Digital
Round: Series B
Funding Month: October 2021
Lead Investors: GGV Capital
Additional Investors: Telkomsel Mitra Inovasi, MDI Ventures, Gunung Sewu Group, Mandiri Capital, Buana Sejahtera Group, and Endeavor Catalyst
Company Website: https://privy.id/
Software Category: Digital signature and universal identity services
About the Company: Founded in 2016 by Guritno Adi Saputra and Marshall Pribadi, PrivyID offers a platform that enables users and enterprises to digitally sign and transfer documents online with an integrated audit trail by using electronic identity verification technology that works across platforms. The startup is the only digital player that has passed the central bank’s regulatory sandbox. PrivyID has projected that its daily transactions will grow from 100,000 per day to 800,000 per day in the next two years. PrivyID envisions to be a global leader in electronic identification and authorization by enabling organizations, humans, and machines to communicate seamlessly while safeguarding confidentiality, authenticity, access control, integrity, and non-repudiation.