A model says 'likely.' The company says nothing.
On January 2, 2026, Morningstar republished a PitchBook list of nine venture-backed cybersecurity startups its VC Exit Predictor model rated as having a high likelihood of going public, alongside names like Snyk, Illumio, and Arctic Wolf. ID.me made the list, with the writeup noting that '2025 has been a blockbuster year for the startup, with huge successive funding rounds.'
A model score built from funding pace and growth data is not the same as a company confirming plans. Founder and CEO Blake Hall has spoken repeatedly and publicly about ID.me's mission -- stopping identity fraud, which the GAO estimates cost the US government up to $521 billion a year between 2018 and 2022 -- but not about a stock listing.
Two raises in one year
ID.me's 'blockbuster year' started with a $275 million credit facility from Ares Management, announced January 30, 2025, with Ares also committing to a future equity investment. That set up a second announcement on September 3, 2025: $65 million in new Series E equity, combined with the existing credit facility for $340 million in total disclosed capital, at a valuation exceeding $2 billion. Ribbit Capital led the equity round, joined by Ares Credit funds, Moonshots Capital, and new investor Positive Sum.
'Fraud is evolving at the speed of AI -- and so are we,' Hall said in the company's announcement. Ribbit Capital general partner Justin Saslaw framed the investment around AI-agent identity, saying trusted identity tokens would 'enable secure, seamless interactions between people, organizations, and machines.' Neither comment addressed a public listing.
What ID.me actually does at this scale
ID.me's own numbers explain the investor interest: more than 152 million users, nearly 60% of US adults, with 76 million verified to the federal government's IAL2 identity-assurance standard. The company works with 20 federal agencies, 45 state agencies, more than 70 healthcare organizations, and over 600 consumer brands, and it credits its technology with helping seven states prevent more than $270 billion in unemployment fraud during the pandemic.
That scale is why PitchBook's model flags ID.me as IPO-likely. It is not, on its own, a filing. Nothing here substitutes for an S-1 on SEC EDGAR or an explicit timeline from Hall, and any specific 'ID.me IPO date' circulating online remains speculation until the company or a filing says otherwise.