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Spruce is a digital identity verification company that focuses on Decentralized Identities (DID). Its goal is to empower users to have ownership of their identities and facilitate identity interoperability. Spruce has introduced two products: one is the centralized identity toolkit called SpruceID, which offers features like signing, sharing, and verifying trusted information. The other is the self-sovereign storage solution called Kepler, which gives users control over their data, including storage, sharing, and access.
In September 2021, Spruce was awarded a project by the Ethereum Foundation (EF) and Ethereum Name Service (ENS). This project enables users to log in to third-party applications using their Ethereum accounts and utilize their wallets to control their digital identities. Spruce completed a $34 million Series A funding round in April and was led by a16z. In November 2021, it raised $7.5 million in funding from investors like Alameda Research, Coinbase Ventures, A. Capital Ventures, and others.
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