NuID, Inc.

NuID, Inc. is a technology company specializing in trustless authentication solutions, providing advanced APIs for secure user identity verification without relying on password storage, enhancing online privacy and security. Founded in 2017 in Seattle, US, NuID, Inc. offers solutions focusing on secure authentication APIs.

The company has completed 2 deals, including a Seed round in December 2018, raising USD 2. 5 mn led by Jemison Investment Company and supported by 8VC. Locke Brown serves as both the founder and CEO, indicating a consistent leadership since its inception. NuID specializes in providing a trustless authentication API and decentralized identity solution designed for websites and applications.

Their core product leverages advanced cryptography and zero-knowledge proofs to facilitate secure user authentication without the need to store sensitive information like passwords on servers. This functionality addresses prevalent issues of credential breaches and enhances user privacy by ensuring that passwords never leave the user’s device, thereby mitigating risks associated with data interception. The company's offerings cater to developers and businesses across diverse sectors, enhancing the user experience while aligning with modern security protocols. NuID’s solutions are applicable in various geographical markets, including North America, Europe, and parts of Asia, targeting companies that require robust authentication mechanisms to protect user identities in an increasingly digital landscape.

NuID operates on a subscription-based revenue model, where clients can access its services through different pricing plans tailored to their authentication needs. Transactions typically involve businesses subscribing to NuID's authentication API, which allows them to integrate trustless authentication capabilities into their applications seamlessly. Clients, which may include e-commerce platforms, SaaS providers, and mobile application developers, engage with NuID to enhance their security infrastructure and improve user experience. Flagship services include the authentication API that facilitates secure logins through modern cryptographic techniques.

The transactional structure is primarily B2B, where businesses pay a recurring fee for access to the API, aligning the company's revenue generation directly with the value provided through its innovative authentication solutions. With the USD 2. 5 mn raised in Seed funding in December 2018, NuID plans to invest in the development of new products aimed at enhancing its authentication solutions. The company is exploring additional markets in Europe and Asia with an expected expansion timeline by the end of 2023.

Recent funds will support these initiatives, allowing NuID to scale operations and enhance product offerings to meet growing security demands in the digital landscape.