We are delighted to celebrate another success from one of Barcelona Health Hub‘s members; this time, Validated ID becomes successful in a funding round led by Caixa Capital Risc, Randstad and Cuatrecasas
ValidatedID, specialised in electronic signatures, electronic bills and digital identities, has closed a funding round of approximately 2 million euros. The funding round was led by Caixa Capital Risc, the venture capital company of CriteriaCaixa which manages over 215 million euros and counts on a portfolio of 180 companies, as well as Randstad Innovation Fund, Randstad’s Corporate Venture Capital. Moreover, it has also counted on the participation of its founders; previous associates and Cuatrecasas Ventures, an investment vehicle focused on startups and promoted by the legal firm Cuatrecasas.
ValidatedID specializes on the services of digital signatures and identities and works with over 1000 clients through the solution for multichannel electronic signatures VIDsigner and the creation of VIDchain as a new service for digital self-sovereign identity. With the recently captured funding, ValidatedID wants to intensify de internationalization of its service; accelerate the technological development of its product and accelerate the consolidation of the VIDchain market.
ValidatedID has three main lines of business. Firstly, with VIDsigner, it offers a service of electronic signatures prepared for both signatures completed remotely or not. This service requires maximum levels of security, legal compliance and usability. Secondly, with SP4i, ValidatedID offers a service for electronic bills which abides by the national and European normative requirements. And, thirdly and finally, with VIDchain, it offers a new service of digital Self-Sovereign Identity (SSI) based on blockchain technologies and market standards which has become a universal model, capable of resolving problems in validating identities such as security errors; privacy; GDPR, PSD2 and AML fulfillment; high costs; portability and usability in KYC and onboarding contexts.
“We are living in an accelerated stage of growth in Validated ID. The moment is right, our technology and our services are aligned with a market that is responsive and, we have a large team that, day after day, demonstrates its ability to manage this wave of growth” stated Santi Casas, Validated ID’s CEO. In this context “the entry of Caixa Capital Risc, Randstad Innovation Fund and Cuatrecasas Ventures is a validation that we are walking down the correct path and it will push us to more ambitiously tackle new objectives of the internationalization of VIDsigner and accelerating the evolution of VIDchain as a service aligned with the new universal models of identity”.
Xavier Álvarez, director of TIC of Caixa Capital Risc, signals that “this operation is another one which demonstrates Caixa Capital Risc’s intention to support companies with a promising future and innovative solutions based on technology”. Álvarez, added “Validated ID is a project which is perfectly aligned with the spirit that we look for in companies that we choose to invest in; it has a solid project and an incredibly attractive product thus making the company one with a heightenned potential for growth”.
Finally, Paul Jacquin, Managing Partner in Randstad Innovation Fund stated “we are very satisfied with Validated ID’s rate of growth; the rate of growth within Spain of its solution for digital signatures and, its potential for growth in determined European markets. Moreover, we are very involved in the development of the solution for Self Sovereign Identity (SSI) and the work that they are completing in first level institutions. As the SSI market matures, Validated ID’s potential will develop naturally.”
Validated ID is founded in 2012 by several enthusiasts from the world of digital ID and electronic signatures. Their services put simplicity first whilst maintaining the highest levels of technical and legal security. Through their electronic signature service VIDsigner they simplify greatly the signing process, providing maximum legal certainty when signing informed consent forms and other confidential documents. This facilitates the doctor’s work and ensures that the patient feels comfortable with what he signs and how he signs it.