SpruceID

Manages digital credentials and identities

New York City, New York, United States

About SpruceID

SpruceID provides a platform for organizations to manage digital credentials, which include items like mobile driver's licenses and professional certifications. Their main product, SpruceKit, allows applications to issue, hold, and verify these digital credentials, making it easier for users to manage their identities securely in a digital environment. A standout feature of SpruceID is its support for mobile driver's licenses, which are issued by governments and are gaining popularity globally. Unlike many competitors, SpruceID operates on an open-source model, allowing users to access and understand the system's workings, which builds trust. The company's goal is to enhance the security and management of digital identities for various clients, including government agencies and businesses.

New York City, New YorkHeadquarters
2020Year Founded
$40.4MTotal Funding
SERIES_ACompany Stage
Enterprise Software, CybersecurityIndustries
11-50Employees

Benefits

Remote Work Options

Risks

Competition from startups with advanced biometric solutions could challenge SpruceID's market position.
Convergence of digital identity systems in Europe may lead to regulatory challenges.
Reliance on open-source models could expose SpruceID to intellectual property risks.

Differentiation

SpruceID offers decentralized identity capabilities through its primary product, SpruceKit.
The company supports mobile driver's licenses, a rapidly growing digital identity trend.
SpruceID operates on an open-source model, fostering transparency and trust.

Upsides

SpruceID's partnership with California DMV enhances its digital identity verification leadership.
Hiring digital identity experts could lead to innovative product development.
Increased mDL adoption globally presents a growing market for SpruceID's services.