Written by Aaron Applbaum — Former Director of Investments
Having a layer of reliable third-party identity authentication is becoming increasingly necessary.
An individual's traditional (human-physical) identity is becoming irreversibly connected to their digital identity in all the disparate corners of cyberspace. A solution that can unify, aggregate and build a reliable identity in cyberspace will curb one of the largest attack vectors hackers use to perpetrate cybercrime-credential theft and misuse.
The current identity management solutions have built infrastructures that manage credentials and do a good job of creating single sign-on experiences, but digital identity is not a one size fits all framework. Unlike a driver's license, digital identity will look different and be composed of different inputs for different individuals (for example one person banks, with JP Morgan, another with Bank of America).
Strategic Cyber Ventures (SCV) is excited to invest in a company that tackles the identity management and proofing problem as a tailored and highly customizable service.
What differentiates ID DataWeb is that they create an online identity that takes verification from multiple disparate sources simultaneously so that an identity can be thoroughly verified, while not uniform. ID DataWeb becomes a hub where bespoken verification solutions are built and the implications of this are far-reaching. These bespoken identity solutions, when applied to an enterprise, gives the security team the ability to toggle-up or toggle down identification, and access requirements for users in the enterprise in real-time. For example, the authentication requirements for an employee sitting at her desk at noon on a Tuesday might be much lower than what would be required to log on late at night while traveling. This ability to provide adaptive authentication heavily curtails major vector hackers use to penetrate a network: credential theft.
ID DataWeb facilitates an ecosystem in which identity providers, attribute providers, relying parties and users can exchange and re-use credentials, making identity verification dynamic. What forms of credentials are used for a user is dynamic, and as a result, digital identity becomes simultaneous, more rigorous, and more fluid.
The ID DataWeb solution, while bolstering and hardening security postures across cyberspace, promotes trust on a network and privacy for the users.
IDW, as we affectionately call it, is changing the identity landscape, making it a highly tailored, dynamic, and safe ecosystem.
SCV is glad to be a part of this dynamic identity verification revolution!
ABOUT STRATEGIC CYBER VENTURES
Cybersecurity is national security, and we're a D.C.-based venture capital firm on a mission to find cutting-edge startups that help us make an impact. We go beyond the check to help our founders win by leveraging our industry connections and experience as cybersecurity veterans to fuel their companies from inception to exit.
To learn more about our investment strategy and portfolio, explore www.scvgroup.com or connect with us on X @SCV_Cyber to be part of our mission in shaping the future of cybersecurity.