1Kosmos raised $ 15 million in a Series A funding round and is exiting stealth mode to launch its biometrics and private blockchain-based security platform for the highest levels of identity and authentication security. The funds will be used to accelerate the company’s growth and product roadmap, according to the announcement.
The funding round was led by ForgePoint Capital, which recognizes itself as the leading VC partner for early-stage cybersecurity companies.
1Kosmos offers BlockID Verify, BlockID Workforce and BlockID Customer to provide passwordless authentication and improved security to businesses and individuals. BlockID was launched on the Auth0 marketplace in January to bring the company’s DID (Decentralized Identity) technology to the workforce.
According to the company, BlockID can be integrated into any application, website or operating system without additional software.
In addition to funding, 1Kosmos has set up an advisory board that includes former US NSA director and Booz Allen Vice-Chairman Mike McConnell, former Air Force CIO Art Money, former Secretary of State Kirstjen Nielsen and founding partner of ForgePoint Capital , Alberto Yépez.
“Research has shown that 81 percent of data breaches are caused by proof of identity and credentials,” said Hemen Vimadalal, CEO of 1Kosmos. “With the help of our expert advisory board and ForgePoint’s investment, we can make this a thing of the past for everyone, saving companies and individuals the time, money and hassle associated with obsolete security. We’re here to solve a 60 year old digital identity and credentials problem in less than 60 minutes. “
The 1Kosmos leadership team has senior management experience at Sun, Oracle and Lehman Brothers. Past partners and customers of the company include Verizon, Hitachi and RSA Security.
1Kosmos BlockID | Authentication | Biometrics | Blockchain | Credentials | Cybersecurity | digital identity | Financing | Identity Management | investment