Keyless partners with leading IAM vendors to help accelerate adoption of next-gen biometrics and brings funding total to USD 9.2 million

14 apr 2021 Press Release, Barcamper Ventures, Portfolio

Keyless, the world’s first privacy-enhancing biometric authentication and identity management firm, has recently announced partnerships with Microsoft Azure AD B2C, OneLogin and Auth0, three of the world’s leading Identity and Access Management (IAM) providers.

With the global biometric system market projected to grow to USD 68.6 billion by 2025, according to the Biometrics Markets Report, these partnerships will help organisations be more agile in providing a secure, privacy-first biometric authentication solution to customers and employees.

“Traditional multi-factor authentication (MFA) can be cumbersome, expensive to deploy and susceptible to new attack avenues. By partnering with IAM providers, such as Microsoft, Auth0 and OneLogin, we can serve the market's need with faster and more innovative authentication solutions, that are not only intuitive for users, but offer stronger protection against emerging mobile security and privacy threats,” said Andrea Carmignani, Chief Executive Officer at Keyless.

Identity and Access Management vendors, like Microsoft Azure AD B2C, Auth0 and OneLogin, respectively service thousands of organisations across the world, helping them to manage customer and employee identities. However, most IAM providers don’t have their own biometric authentication technology, and are looking to partner with companies providing cutting-edge solutions.

“Keyless offers a sophisticated solution that ultimately helps authentication and identity management providers put the user and their privacy first. Embracing biometric technology that utilises a distributed cloud network not only helps organisations eliminate fraud, phishing and account takeover threats, it also ensures that sensitive biometric information is never at risk of being lost, stolen or mishandled,” Giuseppe Donvito, Partner at P101 SGR, one of Keyless’ largest investors.

Building on the momentum gained through these new partnerships, along with a growing base of customers, Keyless recently secured another USD $3 million in funding, bringing the startup’s total seed funds to USD $9 million

This latest extension of the company's seed round was led by Italian venture capital firm P101 SGR, (through its second investment vehicle P102 and ITALIA 500 – a fund created by Azimut Libera Impresa SGR, managed under mandate by P101). Primomiglio SGR, Inventures and Gumi Crypto Capital also participated in this round.

Download the full press release from here.

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