iWelcome, the leading European Identity & Access Management as-a-service (IDaaS) vendor, today announced its series C funding led by Germany based Capnamic Ventures and Netherlands based Connected Capital with participation of the existing shareholders. The funds will be used to unlock target markets across Europe and to solidify iWelcome’s position as innovation & product leader in the rapidly growing Consumer Identity and Access Management (CIAM) space.
Building trusted and consumer-friendly online relationships enabling top-line growth
iWelcome’s CIAM platform improves registration and conversion rates and enhances the personalised user experience. The platform protects the consumer’s privacy and connects them to the on-line ecosystems that businesses build.
It provides a 360-degree view over the user population facilitating multi-branded- and omni-channel interactions at internet scale. iWelcome integrates seamlessly with “things”, thereby supporting opportunities in connected- cities, homes, appliances and cars. This is why the company’s footprint in the European market with customers like Admiral Insurance, PostNL, Quby (Toon smart-meter), Helvetia and Aktion Mensch is already very strong.
Its strength has also been acknowledged by leading analysts, naming iWelcome as global innovation leader in CIAM ahead of other solutions.
“Our goal is not only to maintain this competitive advantage, but much rather to strengthen our product, to widen our offering and to boost direct touch and presence in all major European markets, including the German speaking countries, the UK and France” says Danny de Vreeze, CEO of iWelcome.
“In order to tap the multi-billion EUR market, the company is going to ramp-up sales, marketing and further innovate in terms of easy access to its service, which is being appreciated by the new investors,” states Jörg Binnenbrücker, Managing Partner at Capnamic Ventures.
The DNA of iWelcome suits the European market and upcoming GDPR like no other
iWelcome is rooted in Europe, with intrinsic European values like privacy-by-design, data protection and security positioned in the heart of the company. With GDPR (General Data Protection Regulation) coming into effect in six months, iWelcome has set new standards in terms of security, data residency and privacy, without constraining its frictionless user experience philosophy.
“GDPR is not a hit and run,” says Danny de Vreeze. “The challenge is not just to become compliant but to internalise compliance in day to day interaction with consumers. This requires a detailed approach to Consent Lifecycle Management (CLM).”
GDPR not only requires companies to ask its customers for consent to store and use their personal data, it also demands companies to be transparent about the specific purpose and timeline of their data processing. Furthermore, data processors need to be able to proof that personal data is not used for any other purpose than it holds consent for. These CLM capabilities are at the center of iWelcome’s CIAM platform and build upon a (meta-)data set-up that is recognized by analysts as the superior architecture in the CIAM space
“Connected Capital is excited about iWelcome’s unique innovative platform and its strong leadership team. The company is well positioned to help clients across industries win in the digital domain and GDPR is adding to that momentum. We are very bullish about iWelcome’s growth potential”, states Mathijs Robbens, Managing Partner at Connected Capital.
iWelcome provides Identity as-a-Service for frictionless privacy-protected consumer services and security-enabled workforce processes. iWelcome is the only European born Identity Platform – headquartered in Europe, backed by European investors and specifically serving customers doing business in Europe. Millions of consumers and hundreds of thousands of employees – across industries like banking, insurance, utility, media & publishing, travel & services, retail/e-tail and Governments & Non-Profit – rely on iWelcome on a daily basis. Analysts like Gartner and KuppingerCole have recognised iWelcome as a worldwide Product and Innovation Leader with “Excellence” ratings.
Building truly winning partnerships with its customers, iWelcome offers lowest Total Cost of Ownership and a time-to-service in weeks. Applying Best-of-Breed Private Cloud Technology, customers benefit from both ends: using a SaaS service while not having to share critical resources.