McLean-based ID.me Closes on $275 Million Credit Facility from Ares Management
Ares will also make significant equity investment
McLean, Va. – In the most significant financing for a local company this year, McLean-based digital identity firm ID.me announced that it has closed on a $275 million credit facility from Ares Management, which also plans to make a significant equity investment in the company. ID.me said its revenue grew by 450% from 2020 to 2024. ID.me’s identity management platform is used by major federal agencies, including the IRS and Social Security Administration, as well as commercial clients, to grant users digital access. The company reported that over 139 million users have signed up for its digital wallet. Former Army Ranger Blake Hall founded the company and serves as CEO. In November, ID.me closed a tender offer that valued the company at $1.8 billion
"ID.me is a category and thought leader in the digital identity space, enabling government agency and commercial enterprise customers to navigate the demand for secure and inclusive digital access to their services while respecting end-user data privacy," said John Clark, principal at Ares Management. "As the world continues to be transformed by AI and vectors of fraud proliferate, we believe that ID.me's digital identity wallets will become increasingly important in facilitating the consistent and fraud-resistant connections between these large organizations and their users.