Touchstone ID

It’s been a busy year for Concur CEO Steve Singh. His company sold to SAP for $8.3 billion this past September, he joined Madrona Venture Group as a strategic investor, and now, he’s backing a new identity management startup. Singh is the chairman and sole investor of TouchstoneID, a year-old company with offices in Bellevue and Ontario that’s headed up by former BlackBerry executive Dietmar Wennemer. Touchstone ID CEO Dietmar Wennemer. Touchstone ID CEO Dietmar Wennemer. Singh’s involvement with TouchstoneID was first reported by the Puget Sound Business Journal. The Concur CEO is not leading the startup’s day-to-day operations, but said he’s “very heavily involved,” the PSBJ reported. TouchstoneID’s tagline is “Everything that defines your identity in one location. Available at the touch of your finger, anywhere you need it.” When asked today at a Tech Alliance event in Seattle about investing in local companies, Singh said he backs new startups because it “keeps me young.” “This is the stuff that I get up and I get excited about,” he said. “Even though it is from a distance, you get to help create new products and services that solve problems for people in the world, and that is cool.” Singh is also chairman of Cleartrip, a travel booking website based in India. He also serves on the board of directors for CornerStone OnDemand, Buuteeq, and ModuMetal.