Prove Acquires Portabl to Advance Seamless, Secure, and Interoperable Identity Networks

Prove is the leader in mobile-centric identity verification and authentication. And now, with the acquisition of Portabl, a leading digital identity company specializing in reusable ID verification and networks, Prove is redefining the future of digital trust. Portabl is a graduate of Mastercard Start Path and is backed by leading investors, including Harlem Capital, 6th Man Ventures (6MV), Bessemer Venture Partners, and Dorm Room Fund (DRF). The acquisition will enable Prove to enhance its industry-leading mobile-based identity solutions with Portabl’s innovative approach to the World Wide Web Consortium (W3C) standards like verifiable credentials. The integrated platform will unlock new ways for businesses to verify users, build trust networks, and proactively mitigate emerging fraud threats. Reimagining Identity Verification by Leveraging Reusable IDs Think back to the last time you signed up for a new online service. Chances are, you were met with a tedious process of filling out forms, uploading documents, and waiting for verification. This cumbersome experience is not only frustrating for users but also presents security risks and inefficiencies for businesses. Portabl's innovative approach, based on digital signatures and in W3C standards like verifiable credentials, offers a powerful solution: reusable digital identities. Portabl provides functionality through which users can opt to securely store positive verifications once in a device-independent wallet. From then on, they can selectively share some or all of those persisted attributes and credentials with any business or service provider downstream, eliminating the need for repetitive verification processes. Nate Soffio, Portabl’s CEO, explains embedded finance and AI are begging for transformational change in how we initialize and maintain trust between (real) people and organizations while protecting user consent and control. According to Soffio, “That’s why Portabl’s prime directive, so to speak, is to solve for trust that travels whether you’re talking about proof of humanity on one end of the spectrum, all the way through to KYC on the other.” Soffio goes on to say, “Joining forces with Prove is acknowledgment that our approach to reusable ID represents the future of verification, authentication, and authorization. Prove has an incredible network, and we’re excited to apply what we’ve done to simplify access and keep people and businesses safe.” Portabl technology will dramatically enhance the way businesses leverage Prove to verify users and protect against complex fraud vectors. When Portabl’s reusable identity credentials and digital signatures are used alongside Prove’s industry-leading authentication and behavioral intelligence, organizations will be able to:

• Streamline customer onboarding with minimal friction and strongly authenticated sessions.
• Reduce fraud across high-risk transactions, marketplaces, and regulated services.
• Build durable trust networks supported by real-time positive and negative signals.
• Protect and persist user privacy and consent with continuous monitoring and improvement of privacy practices.

Dan Killmer, SVP Head of Product at Prove, explains how these solutions will work together: "Acquiring Portabl, with their deep expertise of identity standards and consumer experiences, accelerates Prove's leadership in this space. Together, we're shaping the future where Prove is the trusted leader in delivering durable, low-friction authentication methods that enhance the consumer experience while keeping businesses and consumers safe." The integrated offering will allow Prove’s customers to tap into a wider set of orchestrated authentication and verification methods, enabling customers to build and contribute to the underlying trust network. Portabl’s standards-first approach to data interoperability, consent, and alerting is based on next-generation privacy-enhancing technologies (PET). Combining the Portabl solution with the one billion ID tokens already under management, positions Prove to build the largest network of networks in the industry.