ID R&D Inc.

ID R&D Inc. provides innovative biometric authentication and liveness detection solutions to enhance digital security across various platforms, helping to reduce identity fraud effectively. Founded in 2016 in New York, US, ID R&D Inc. specializes in biometric technology solutions.

The company recently underwent an acquisition by MiTek Inc. in June 2021, with financial terms undisclosed. The founder, Konstantin Simonchik, has a background in biometrics and technology. In total, ID R&D has engaged in 3 deals, including a Series A funding round in which they raised USD 5.

70 mn led by GSR Ventures and including Gagarin Capital. ID R&D specializes in advanced biometric authentication and liveness detection solutions, offering products like IDLive® Face and IDLive® Doc for passive facial and document liveness detection. Their IDVoice® product provides comprehensive voice biometrics with anti-spoofing features. These solutions serve various sectors such as finance, healthcare, and telecommunications, supporting applications in digital onboarding, secure communication, and remote authentication, with a global presence in North America, Europe, and Asia-Pacific.

ID R&D's revenue model is based on subscription services and technology licensing to enterprise clients, which involves multi-year contracts for their products like IDLive® Face and IDVoice®. These products are offered as SDKs or Docker images for integration into existing systems, with licensing agreements structured to accommodate varying enterprise needs, thus generating revenue through this transactional model. Following the acquisition in June 2021, ID R&D plans to leverage the support from MiTek Inc. to enhance their product offerings and expand into additional markets.

They are focused on launching new products designed to strengthen their biometric authentication capabilities in the coming years. The funding received will assist in these development efforts as they target further penetration into North America and Europe by the end of 2023.