HomeUSAProxy Secures $42M in Series B Funding

Proxy Secures $42M in Series B Funding

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Proxy, a San Francisco, CA-based provider of digital identities for the physical world, raised $42M in Series B funding.

The round was led by Scale Venture Partners with participation from existing investors Kleiner Perkins and Y Combinator and new investors Silicon Valley Bank and West Ventures.

The company intends to use the funds to accelerate expansion of its technology set and international growth across Asia, Europe, and North America.

Led by Denis Mars, Co-Founder and CEO, Proxy empowers people with a personal identity signal for universal access. The signal, emitted from a smartphone, gives people access to any space or device, similar to a universal single sign-on for the physical world. Today, large enterprises like Doordash, Dropbox and Accenture enable their employees, visitors and tenants to use their Proxy signals for smartphone-based access through secured doors, elevators and turnstiles, and to create personalized experiences throughout the workplace. Beyond the workplace, the company aims to expand to the physical world identity verification and service personalization across industries such as ride-sharing, commercial and public transportation, hospitality, and entertainment. Proxy is already in use by 60+ companies and thousands of people across the globe, from the US and UK to Australia and Japan. Headquartered in San Francisco, the company has already expanded its international operations with the recent opening of offices in New York, Chicago, Shanghai, Taipei and Sydney.

FinSMEs

17/03/2020