US-based 1Kosmos has accomplished its Sequence B funding spherical, securing $57m to reinforce its id verification and passwordless authentication platform.
This funding features a $10m credit score line from Bridge Financial institution, with Forgepoint Capital and Origami’s Oquirrh Ventures main the spherical. Extra individuals embody Craig Abod of Carahsoft, Gula Tech Adventures, NextEra Vitality Ventures, and the administration group of 1Kosmos.
This newest funding brings 1Kosmos’s whole funding to greater than $72m, following a $15m Sequence A spherical in early 2021 from ForgePoint Capital.
The corporate offers distant id verification and passwordless multi-factor authentication options throughout sectors similar to banking, telecommunications, healthcare, and retail. Its platform integrates id proofing, credential verification, and safe authentication to stop id fraud whereas sustaining person privateness.
1Kosmos focuses on unifying id verification with passwordless authentication with out third-party multi-factor authentication add-ons. It makes use of a personal blockchain to encrypt personally identifiable info and leverages AI for adaptive authentication and risk detection.
Forgepoint Capital managing director Ernie Bio mentioned: “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 stop id fraud when accessing digital providers.
“As the biggest investor within the firm, we’re pleased with their monitor report of innovation and delighted to see their accelerating progress.”
The Sequence B funding goals to deal with rising enterprise calls for for identity-first safety options amid rising threats like impersonation and social engineering. 1Kosmos employs applied sciences similar to stay biometrics and phishing-resistant authentication to counter these threats.
In keeping with 1Kosmos, the funds will drive product innovation and international enlargement. These will even be used for scaling gross sales in North America in addition to in Europe, Center East, and Africa (EMEA) and Asia-Pacific (APAC).
Moreover, the corporate plans to deepen know-how integrations with varied id and entry administration platforms.
1Kosmos CEO Hemen Vimadalal mentioned: “Id has turn out to be step one within the kill chain. This funding permits us to strengthen the proactive controls organisations want to stop impersonation-based assaults—whether or not it’s a classy hacking group or a state-sponsored developer hiding in plain sight.
“1Kosmos id verification is the one sensible answer that may be shortly deployed in a matter of hours to successfully fight this risk.”
Current achievements for 1Kosmos embody turning into the one full-service Kantara-certified credential service supplier with FedRAMP Excessive authorisation, certifying its platform for dealing with delicate US authorities workloads.
In partnership with Carahsoft, 1Kosmos secured a ten 12 months, $194.5m settlement to provide id proofing providers to Login.gov.
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