What Iden2 does

iDen2 Inc. is a private US-based company building decentralized digital identity infrastructure using the Self-Sovereign Identity (SSI) model, founded in 2022 with headquarters in Sheridan, Wyoming and a presence in San Francisco. Its core offering is the Phenix Platform, a modular trust operating system hosted on Microsoft Azure that issues, verifies, and evaluates W3C Verifiable Credentials 2.0-compliant digital identities across W3C VC 2.0, SD-JWT, mdoc/ISO 18013-5, and JSON-LD formats. The platform comprises five composable services — Credentials Factory (issuance), Trust Engine (real-time verification against live revocation registries), Protocol Bridge (OIDC/SAML interoperability), Agentic Proof of Control / APoC (cryptographic authorization for AI agents), and Custody Controls (wallet lifecycle management) — paired with the Intelligent Wallet, an active identity operating system that hosts credential-bearing AI agents acting within user-defined policy boundaries.

The company serves government agencies, large enterprises, and AI agent deployers across vertical use cases including healthcare, financial services, travel and hospitality, supply chain, and education/accreditation. Revenue streams combine subscription-based Phenix platform licensing, usage-based Verification as a Service API calls, enterprise implementation and consulting services, and Wallet as a Service for organizational deployments. Distribution is primarily direct via discovery calls for enterprises, channel-based via Carahsoft for US public-sector accounts, and self-serve via Microsoft Azure Marketplace. Notable deployments include Bhutan's national digital identity program (with documented reductions of ~70% in per-transaction cost and ~60% in administrative processing time) and a US presence anchored by the acquisition of Bindle Systems, which contributed one of the largest SSI networks in the USA with over 300,000 users.

iDen2 positions compliance as a structural feature: the platform is built for eIDAS 2.0 and ISO 18013-5 cross-border acceptance, GDPR consent withdrawal, PCI-DSS in travel, FERPA in education, and CCPA/CPRA data minimization. Its strategic narrative centers on the "authorization gap" for enterprise AI — the absence of cryptographic proof when AI agents transact on behalf of humans — and on APoC as the first dedicated solution to that gap. The company is venture-backable and privately held, with founders Alfy Louis (CEO), Philip Fahim (CPO), and Marius Scurtescu (CTO), and no public financial reporting, investor names, or funding amounts disclosed.

Name

Iden2

Legal name

iDen2 Inc.

Website

https://iden2.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

iDen2 builds decentralized digital identity infrastructure (Self-Sovereign Identity) via its Phenix Platform and Intelligent Wallet, issuing and verifying W3C-compliant credentials for governments, large enterprises, and AI agent deployers across multiple verticals.

Ownership category

akta.pro rank

Product category

Decentralized Digital Identity Platform

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210), Software Publishers (5132)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Decentralized Identity (DID) & Identity Wallets (DID methods, DIDComm, identity agents) (FSAPACAG)

akta.pro secondary industries

Authorization & Permissions (delegation, allowances, capability-based access, session keys) (FSAPACAJ), Account Abstraction & Smart Wallet Tooling (AA SDKs, paymasters, session keys) (FSAPABAK), Compliance Identity & KYC/KYB for Wallets (on-chain identity, reusable KYC, travel rule tooling) (FSAPACAL), Decentralized Identity & Verifiable Credentials for Finance (DID/KYC Reuse) (FSAGAMAE)

Keywords

• Decentralized identity
• Verifiable credentials
• Self-sovereign identity
• AI agent authorization
• Digital identity platform

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Platform/SaaS Subscription: Phenix platform subscription for governments and enterprises providing credential issuance, verification, and trust management capabilities. Revenue from annual platform licensing.
2. Verification as a Service: Per-verification API calls for credential checking, revocation status, and trust registry validation. Single API call that returns auditable results in real-time.
3. Enterprise Implementation Services: Custom deployment, integration, and consulting services for government and enterprise customers requiring tailored implementations.
4. Wallet as a Service: Enterprise wallet management including bulk credential management, delegation policies, and expiry enforcement for organizational deployments.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

iDen2 builds and sells a decentralized digital identity platform — branded as the Phenix Platform and Intelligent Wallet — that issues and verifies W3C Verifiable Credentials 2.0 for humans, organizations, and AI agents. The platform cryptographically binds every AI agent action to a verified human principal via Agentic Proof of Control, and offers Verification as a Service through a single API call for cross-industry, cross-jurisdiction credential checking.

Product overview

iDen2 offers a decentralized digital identity platform centered on the iDen2 Intelligent Wallet and the Phenix Platform. The Intelligent Wallet is an active identity operating system that stores credentials and hosts AI agents for autonomous credential management with policy enforcement and risk monitoring. The Phenix Platform is a modular trust operating system (Trust Mesh) built on Microsoft Azure that composes five key services: Credentials Factory (credential issuance), Trust Engine (real-time verification), Protocol Bridge (OIDC/SAML interoperability), APoC Engine (AI agent authorization), and Custody Controls (wallet management). The platform enables humans, organizations, and AI agents to be verified once and trusted everywhere, with cross-border compliance alignment to eIDAS 2.0 and ISO 18013-5. iDen2 acquired Bindle Systems (largest SSI network in the U.S. with 300,000+ users) to expand its network. The Carahsoft partnership enables public sector and enterprise distribution through government contract vehicles.

Differentiator

Problem solved

Functional benefit

Brands

• Phenix Platform: A modular trust operating system platform for governments and enterprise, featuring the Trust Mesh, Credentials Factory, Trust Engine, Protocol Bridge, Agentic Proof of Control, and Custody Controls.

Products and services

• Phenix Platform A modular trust operating system (Trust Mesh) for governments and enterprises, built on Microsoft Azure. Composes Credentials Factory, Trust Engine, Protocol Bridge, APoC Engine, and Custody Controls, and supports W3C VC 2.0, SD-JWT, mdoc/ISO 18013-5, and Open Badges 3.0 standards.
• iDen2 Intelligent Wallet (Wallet as a Service) An active identity operating system wallet that stores credentials and autonomously manages context-aware credential selection, minimum disclosure enforcement, and credential health monitoring. Hosts AI agents (Presenter, Verifier, Negotiator, AI Delegate, Guardian) that can act on credentials within user-defined boundaries, with the Wallet as a Service offering providing enterprise wallet management including bulk credential management, delegation policies, and expiry enforcement for organizational deployments.
• iDen2 Agentic Proof of Control (APoC) Engine The first cryptographic authorization layer for AI agents. Binds every AI agent action to a verified human principal with full audit trail, scoped delegation credentials, time-bound constraints, and revocation capabilities.
• Verification as a Service A single API call-based credential verification service that checks credentials, confirms revocation status, validates issuers against live trust registries, and returns auditable results in real time across industries and jurisdictions. Supports SD-JWT selective disclosure, ZKP attribute proof, and revocation checks, available as enterprise/partner-facing service for cross-industry and cross-jurisdiction credential verification.

Quantifiable outcome

• 70% reduction in per-transaction costs through digital channels
• +8 more outcomes

Named customers2 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• Carahsoft Technology Corp.coreChannel Partner/ Reseller/ Distributor · 13 April 2026Carahsoft serves as iDen2's Public Sector and Enterprise distributor, enabling broad access to iDen2's platform through its reseller ecosystem and major contract vehicles including NASA SEWP V, NASPO ValuePoint, ITES-SW2, TIPS, and OMNIA Partners. This partnership expands distribution and reach for the decentralized digital identity platform to US government agencies and enterprises.
• Bindle SystemscoreStrategic or Co-development Partner · 13 April 2026iDen2 acquired Bindle Systems, which operated one of the largest Self-Sovereign Identity networks in the USA with over 300,000 users. This acquisition expanded iDen2's network and user base significantly.
• Bhutan NDIflagshipStrategic or Co-development Partner · 19 August 2025Strategic partnership to democratize digital identity deployment for nations worldwide. Combines iDen2's technology platform with Bhutan NDI's proven national deployment expertise. Jointly offering Phenix platform for governments seeking secure, scalable, and citizen-centric digital identity solutions with documented ROI within 18-24 months.
• Microsoft AzurecoreTechnology or IntegrationiDen2's Phenix platform is built on Microsoft Azure, engineered for national-scale deployment with high availability, open standard interoperability, and enterprise compliance requirements.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Spruce ID: Spruce ID is a direct competitor building W3C Verifiable Credentials, decentralized identifiers, and DIDComm-based identity infrastructure for enterprises and governments. It is closely comparable to iDen2's Phenix Platform on core technology (W3C VC, DID methods, selective disclosure) and target buyer profile.
• Indicio: Indicio provides open-source decentralized identity and verifiable credential technology, with particular strength in government and travel use cases. It is directly comparable to iDen2's national digital identity deployments and cross-border credential verification positioning.
• Trinsic: Trinsic offers a verifiable credential platform with API-first issuance, verification, and wallet infrastructure, closely mirroring iDen2's Phenix Platform architecture. Both target developers and enterprises integrating reusable digital credentials.
• MATTR: MATTR builds a verifiable credentials platform with strong support for standards (W3C VC, ISO mdoc/mDL) and government-grade deployments. Comparable to iDen2 on credential issuance, trust registry, and cross-jurisdiction verification.
• Affinidi: Affinidi provides a decentralized identity and personal data platform for verifiable credentials and consent management. It overlaps directly with iDen2's reusable credential, KYC, and selective-disclosure offerings across enterprise use cases.
• Dock: Dock offers a verifiable credentials network and digital ID wallet for credential issuance and verification. Comparable to iDen2's Phenix Platform on reusable credentials, KYC, and credential lifecycle management.
• Veramo: Veramo is an open-source framework for verifiable data and DID agent implementations. It overlaps with iDen2's developer and SDK surface for creating, issuing, and verifying W3C-compliant verifiable credentials.

Broad incumbents

• Microsoft Entra Verified ID: Microsoft Entra Verified ID is Microsoft's enterprise verifiable credentials product within the broader Entra identity suite. It is a broad incumbent with overlapping DID/VC capabilities and a deeply embedded enterprise distribution channel — both a partner (Azure infrastructure) and potential competitive threat to iDen2.
• Ping Identity: Ping Identity is an enterprise IAM platform with verifiable credential and decentralized identity capabilities integrated into its workforce and customer identity offerings. Comparable to iDen2 at the enterprise identity federation layer, though broader in scope.
• Okta: Okta is a leading identity and access management platform with growing investments in verifiable credentials and decentralized identity. It competes with iDen2 in enterprise identity federation, employee and customer verification, and AI agent identity use cases at the broad incumbent level.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 Iden2