What Bindle Systems does

Bindle Systems, Inc. is a U.S.-based digital identity company founded in June 2020 and headquartered in Ardsley, New York, that built a mobile digital wallet for storing and presenting private, reusable, verifiable digital credentials under the Verifiable Credentials (VC) and Self-Sovereign Identity (SSI) standards. The wallet is protected by military-grade encryption with the user's decryption key held exclusively in the device's secure enclave, which means the company itself cannot decrypt user data — a structurally enforced privacy property that Bindle promoted as the core of its value proposition. The first commercial application was the COVID-19 HealthPass, a consumer-facing app that enabled individuals to prove vaccination or test status to venues and employers without revealing underlying health information; within 18 months Bindle claimed the largest private deployment of VCs and SSI in the United States, serving over 300,000 users and hundreds of healthcare issuers and enterprise verifiers including The Chicago Symphony, Dartmouth College, Dead & Company, The Kennedy Center, San Diego State University, and the White House Correspondents Dinner.

The business model is platform-fee based: healthcare institutions and other issuers pay to issue verifiable credentials through the platform, and enterprise customers (venues, universities, employers, events) pay to verify those credentials, with verification structured as a zero-knowledge yes/no response that returns eligibility without exposing source data. Distribution began as product-led growth via the iOS/Android app and was later augmented post-acquisition by a Carahsoft reseller channel reaching U.S. federal, state, and local government agencies through contract vehicles such as NASA SEWP V and NASPO ValuePoint. On November 1, 2024, Bindle was acquired by IDEN2, a European digital identity company that selected VCs/SSI as the basis for a continent-wide identity solution; the combined entity now positions the Bindle wallet and IDEN2 platform around passwordless identity verification and AI-driven fraud prevention for both enterprises and public-sector buyers. Disclosed funding is limited to a single $3 million round from TELUS Global Ventures in October 2020; the company has not publicly disclosed revenue.

Name

Bindle Systems

Legal name

Bindle Systems, Inc.

Website

https://bindlesystems.com

Company type

Private

Founded year

2020

Operating status

Acquired

Headcount range

11–50 employees

Short description

Bindle Systems builds a privacy-preserving mobile digital wallet for Verifiable Credentials and Self-Sovereign Identity, originally piloted as a COVID-19 HealthPass and now, post-acquisition by IDEN2, serving government agencies and enterprises via Carahsoft distribution.

Ownership category

akta.pro rank

Product category

Digital Identity Platform

akta.pro primary industry

Decentralized Identity (DID) & Verifiable Credentials (BPAMAEAJ)

akta.pro secondary industries

Decentralized Identity (DID) & Identity Wallets (DID methods, DIDComm, identity agents) (FSAPACAG), Verifiable Credentials & Attestations (VC issuance/verification, credential registries) (FSAPACAH), Decentralized Identity & Verifiable Credentials for Finance (DID/KYC Reuse) (FSAGAMAE)

Keywords

• Digital identity platform
• Verifiable credentials
• Self-sovereign identity
• Digital credential wallet
• Credential verification

Headquarters

HQ city

Katonah

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Verifiable Credential Issuance & Verification Platform: Bindle enables healthcare institutions to issue vaccination and test credentials on its platform, and enterprise customers to verify these credentials at venues and events. Revenue is generated through platform fees for credential issuance and verification services. Post-acquisition by IDEN2, the combined entity targets government agencies and enterprises through channel partners.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Bindle Systems operates a decentralized digital identity platform built on Verifiable Credentials and Self-Sovereign Identity standards. Its core product is the Bindle Digital Wallet, a mobile application that lets individuals store private, reusable digital credentials encrypted with a private key kept in the device's secure enclave. The platform enables healthcare institutions to issue verifiable vaccination and test credentials, and enables enterprises, venues, and government agencies to verify those credentials via zero-knowledge yes/no responses without accessing the underlying personal data.

Product overview

Bindle Systems offers a digital identity platform centered on Verifiable Credentials (VCs) and Self-Sovereign Identity (SSI). The core product is the Bindle Digital Wallet—a mobile application that stores private, reusable, verifiable credentials with military-grade encryption, giving users control over their personal data. The initial commercial application was the COVID-19 HealthPass, which proved the viability of these technologies for credentialing during the pandemic. The platform enables credential issuers (such as healthcare institutions) to issue credentials while verifiers (sponsors) can validate credentials without accessing underlying personal information. Within 18 months of launch, Bindle became the largest private deployment of VCs and SSI in the United States. The company was acquired by iDen2 in November 2024.

Differentiator

Problem solved

Functional benefit

Products and services

• Bindle Digital Wallet A mobile application (iOS and Android) that serves as a digital wallet for individuals to store private, reusable, verifiable digital credentials with military-grade encryption, where the private key is held in the device's secure enclave. Used by individuals to receive credentials from issuers such as healthcare institutions and to present zero-knowledge entry passes to verifiers.
• COVID-19 HealthPass Bindle's first commercial application built on the Bindle Digital Wallet, enabling individuals to prove COVID-19 vaccination or test status to venues, employers, and events without disclosing underlying personal health data. Used by hundreds of healthcare institutions to issue credentials and by hundreds of enterprise customers including The Chicago Symphony, Dartmouth College, Dead & Company, The Kennedy Center, San Diego State University, and The White House Correspondents Dinner to verify them.

Quantifiable outcome

• Became the largest private deployment of Verifiable Credentials and Self-Sovereign Identity in the United States within 18 months of launch.
• +1 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• CarahsoftcoreChannel Partner/ Reseller/ Distributor · 14 April 2026iDen2 and Carahsoft Technology entered into a distributorship agreement making iDen2's decentralized digital identity platform (which now includes Bindle's technology following the acquisition) available to government agencies and enterprises through Carahsoft's reseller network and contract vehicles such as NASA SEWP V and NASPO ValuePoint. Carahsoft serves as iDen2's public sector and enterprise distributor, enabling federal, state, and local agencies to access passwordless identity verification and AI-driven fraud prevention tools.
• IDEN2coreOthers · 1 November 2024On November 1, 2024, Bindle was acquired by IDEN2, a company deploying Verifiable Credentials and Self-Sovereign Identity in the European Union. IDEN2 recently chose these technologies as the basis for a continent-wide digital identity solution. The acquisition expanded IDEN2's network by absorbing Bindle's operations, which included one of the largest self-sovereign identity networks in the U.S. with over 300,000 users.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• ID.me: Identity verification network used heavily by U.S. government agencies (e.g., IRS, VA). Competes for the same government identity verification and credentialing mandates that Bindle/IDEN2 are pursuing via Carahsoft.
• Microsoft Entra Verified ID: Microsoft's enterprise decentralized identity product, built on open standards and integrated into the broader Entra/Azure identity stack. A large incumbent alternative for organizations standardizing on Microsoft for identity.
• Okta: Leading cloud identity provider with growing capabilities in workforce and customer identity verification. While not focused purely on VCs/SSI, it competes for the same enterprise identity wallet and verification budgets.
• CLEAR: Identity verification platform widely deployed at venues, airports, and live events — directly overlapping with Bindle's original use case of credential verification at cultural institutions and entertainment venues.

Direct peers

• IDEN2: European acquirer of Bindle Systems deploying VCs and SSI as the basis for a continent-wide EU digital identity solution. Operates the same Verifiable Credential / SSI architecture Bindle pioneered in the U.S., now across EU markets.
• Trinsic: Developer platform for verifiable credentials and digital identity wallets, with an issuer/verifier ecosystem comparable to Bindle's. Targets similar enterprise and government use cases through a reusable identity infrastructure.
• Indicio: Decentralized identity company offering verifiable credential infrastructure with a strong focus on government, travel, and cross-border identity use cases — overlapping directly with Bindle/IDEN2's public-sector strategy.
• MATTR: Verifiable Credentials and digital trust platform serving governments and enterprises. Builds open-standards-based credentialing products targeting similar issuers and verifiers as Bindle.
• Dock Labs: Decentralized identity and verifiable credential network with APIs for credential issuance and verification. Competes for the same developer and enterprise wallet-based credentialing customers.

Emerging players

• Spruce ID: Developer-focused DID and verifiable credential toolkit with a privacy-preserving architecture similar to Bindle's. Targets adjacent Web3 and enterprise identity use cases and represents a credible emerging alternative for credential issuance and verification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bindle Systems