Brazilian digital ID company Unico, valued at about $2.6 billion, said it has bought the U.S. and Tel Aviv-based startup OwnID.
OwnID was started in 2020 by Dor Shany and Rooly Eliezerov, who both used to work at Gigya, a company that was sold to SAP in 2017.
The company focuses on password-free login systems. Instead of using traditional passwords, users can sign in to websites and apps using passkeys, biometrics, or magic links.
OwnID also provides analytics to track the login process, giving businesses real-time data on user behavior and login problems. This helps improve security and reduces the number of users who leave during registration or login.
OwnID handles about 3.5 million identity verifications each month and works with well-known global clients like Nestlé, SAP, the NFL, and Michael Kors.
The company has around 20 employees based in California and Tel Aviv. The founders will keep running the business under the new name, OwnID by Unico.
Unico, a leading digital ID company in Brazil that handles about 25 million identity verifications per month for banks, telecoms, and retailers, is buying OwnID as part of its plan to expand globally. Since 2020, Unico has made eight acquisitions, including Oz Forensics and Trully.AI.
By acquiring OwnID, Unico adds a password-free login product to its services and gains a presence in the U.S. and Israeli markets.
Read more-
