Platform Leverages Biometric and Blockchain Technology to Verify Identities
Cybersecurity startup 1Kosmos emerged from stealth mode this week armed with $15 million in Series A funding from ForgePoint Capital to gain traction with its digital identity and authentic solutions.
The Somerset, NJ-based company has developed a platform that leverages biometrics and private a blockchain to enable passwordless authentication.
The company explains that its “ID-proofing process” leverages user-uploaded identity credentials, backed by the use of biometrics to ensure the identity of the user accessing systems, while storing user data encrypted in a private, permissioned blockchain.
While the company name may sound a bit quirky, 1Kosmos is tackling a serious issue, and has recruited several former high-profile government officials to serve on its advisory board, including former NSA Director Mike McConnell; former DHS Secretary Kirstjen Nielsen; Kemp Ensor, former Director of Security and Counterintelligence at the NSA, and several others.
The company is headquartered in Somerset, New Jersey, and has development offices in Mumbai, India.
ForgePoint’s investment in 1Kosmos is one of several deals announced by the cybersecurity investment giant over the past week, which also included investments in SPHERE, WireWheel, and Strata Identity.