authID has earmarked the net proceeds for a number of initiatives. These include expanding sales and operations to gain greater traction in those newer industries where it has recently acquired accounts. authID also plans to grow its customer success team to handle accelerated numbers of clients requiring support in going live on the authID platform.
“I am extremely proud of the significant progress authID has made over the past year. We assembled a new team of biometric authentication experts, increased our market capitalization by 10x, executed on 12x sales bookings growth compared to 2022, and commenced a path towards strong revenue growth,” said
The Shares offered in the Registered Direct Offering are being offered by the Company pursuant to a shelf registration statement (Registration No. 333-260641) filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About authID Inc.
authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, FIDO2 passwordless login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the most accurate user identity experience demanded by today’s digital ecosystem. Discover more at www.authID.ai.
For more information, please visit www. https://authid.ai/.
Media Contacts
authID Media Contact
CEO
Investor-Relations@authid.ai
Cautionary Statement Regarding Forward-Looking Statements:
This Press Release includes “forward-looking statements.” All statements other than statements of historical facts included herein are forward-looking statements. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors. See the Company’s Annual Report on Form 10-K for the Fiscal Year ended
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