Keyless, a London, UK-based company which specializes in privacy-preserving biometric authentication, raised additional $6M in funding.
The round, which brought the total amount to $26M, was led by Rialto Ventures.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Andrea Carmignani, Keyless unifies the entire end-to-end identity lifecycle with privacy-preserving biometric authentication, helping to continuously assure the genuine identity of the user from the initial onboarding and account creation, through to step-up actions, transaction signing (including PSD2 SCA compliance), and account recovery. Its patented technology fortifies protection against account takeover attacks and identity theft and ensures compliance with global data protection and privacy regulations, such as the GDPR.
Commenting on the news, Andrea Carmignani said: “Organizations across many sectors are intensifying their fraud defenses, spotlighting the inadequacy of current authentication methods in effectively establishing user identity, particularly during account recovery.“
This latest round is also the startup’s first as a newly independent company. In a strategic move, Keyless mutually agreed to separate from parent company Sift earlier this year. The separation came after the two companies found that their respective products were best suited to servicing differing markets.
FinSMEs
30/11/2023