Avast Acquires Self-Sovereign Identity Firm Evernym for Undisclosed Amount

The cybersecurity firm says Evernym’s technology is key to its goal of creating decentralized digital identities.

AccessTimeIconDec 9, 2021 at 9:31 p.m. UTC
Updated May 11, 2023 at 5:52 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Consumer cybersecurity giant Avast (LSE:AVST) has acquired self-sovereign identity (SSI) company Evernym for an undisclosed amount, Avast announced Thursday. The acquisition is expected to close in the coming weeks.

Prague-based Avast, which has a market cap of more than $8 billion, said Evernym’s SSI technology is central to its goal of creating decentralized digital identities.

“Our vision for digital freedom is to enable people to manage and retain control over their personal data so that they can interact and transact safely, privately and with confidence. Adding Evernym’s groundbreaking, self-sovereign identity technology to our offering enables us to address this area and is a huge step forward in the realization of our decentralized, portable model,” said Avast CEO Ondrej Vlcek in the press release.

Founded in 2013, Evernym’s flagship product is the Verify platform for issuing and verifying digital credentials. Other products include Verity Flow for no-code credential exchanges, the Connect.Me mobile wallet for holding and sharing credentials and a mobile wallet software development kit (SDK) that lets apps embed the SSI wallet functionality.

Evernym had raised about $16.5 million in private funding before its acquisition, according to Crunchbase data. Its valuation in those rounds of funding was not known.

Evernym will join Avast’s growing digital identity division under the leadership of Charles Walton, who was hired by the cybersecurity company in June to lead the identity business. Walton previously helped Mastercard develop its digital identity services.

“By creating solutions for self-sovereign identity – which is instrumental to creating a layer of trust – Evernym will be a core part of Avast’s vision of empowering people to achieve their true potential online,” Walton wrote in Avast’s announcement post.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Brandy Betz

Brandy covered crypto-related venture capital deals for CoinDesk.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Read more about