1Kosmos has secured $57 million in Sequence B funding for its passwordless id verification expertise.
The corporate will use the funding, which features a $10 million line of credit score from Bridge Financial institution, to gas product innovation, increase integrations with IAM, CIAM, PAM, and nil belief platforms, and speed up international development.
At present’s momentum comes amid latest achievements for the corporate, together with FedRAMP Excessive and Kantara certification, a $194.5 million Login.gov contract, and a Microsoft Entra ID integration.
Passwordless id verification firm 1Kosmos raised $57 million this week in a Sequence B spherical. The funding, which boosts the corporate’s whole funding to $72 million, consists of a $10 million line of credit score from Bridge Financial institution, in addition to contributions from Forgepoint Capital and Origami’s Oquirrh Ventures, which led the spherical, and Craig Abod, NextEra Power Ventures, Gula Tech Adventures, and the 1Kosmos administration staff.
“Identification has grow to be step one within the kill chain. This funding permits us to strengthen the proactive controls organizations want to forestall impersonation-based assaults—whether or not it’s a classy hacking group or a state-sponsored developer hiding in plain sight,” stated 1Kosmos CEO Hemen Vimadalal, noting the rise in impersonation-based assaults from refined hacking teams and state-sponsored actors. “1Kosmos id verification is the one sensible resolution that may be rapidly deployed in a matter of hours to successfully fight this menace.”
1Kosmos will use the funds to advance product innovation; deepen expertise integrations with id and entry administration (IAM), buyer id and entry administration (CIAM), privileged entry administration (PAM), and nil belief platforms; and speed up international growth throughout North America, EMEA, and APAC.
Based in 2018, 1Kosmos makes use of dwell biometrics to facilitate passwordless entry for employees, clients, and residents to digital providers. The corporate’s BlockID platform creates a distributed digital id that stops id impersonation, account takeover, and fraud whereas lowering friction. 1Kosmos’ expertise performs hundreds of thousands of authentications every day for a number of the largest banks, telecommunications, and healthcare organizations throughout the globe.
“The mission at 1Kosmos since its inception has stayed remarkably centered on offering people with a safe digital id, one they management and use to forestall id fraud when accessing digital providers,” stated Forgepoint Capital Managing Director Ernie Bio. “As the biggest investor within the firm, we’re happy with their observe document of innovation and delighted to see their accelerating development.”
1Kosmos’ announcement comes amid a string of successes. Latest wins for the New Jersey-based firm embody:
Integrating its BlockID platform with Microsoft Entra ID for streamlined id and entry administration.
Changing into the one full-service Kantara-certified credential service supplier with FedRAMP Excessive authorization, making it eligible for the US authorities’s most security-sensitive workloads.
Profitable a 10-year, $194.5 million blanket buy settlement, in partnership with Carahsoft, to produce id proofing for Login.gov.
As organizations search to remove passwords and cut back id fraud, whereas bettering the shopper expertise, 1Kosmos’ biometrics-driven method positions it to seize the id verification market. With contemporary funding and new federal certifications, the Better of Present-winning firm is aiming to scale rapidly throughout North America, EMEA, and APAC.
Picture by George Becker
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