Passwordless authentication service 1Kosmos has received a strategic investment from Gula Tech Adventures.
The size of the investment was not revealed.
1Kosmos empowers passwordless access for workers, customers and citizens to securely transact with digital services. By unifying identity proofing and strong authentication, its BlockID platform establishes a distributed digital identity that prevents identity spoofing, account takeover and fraud.
Speaking on the investment, Gula Tech Adventures co-founder and president Ron Gula said, “Gula Tech Adventures made this investment because 1Kosmos is pioneering an approach based on the vision that a user’s identity and the authentication method they use to login to a system should be inseparable.
“Unifying these two functions allows 1Kosmos to not only support passwordless access, but also multi-factor authentication, Zero Trust, distributed identity with privacy and user consent at its core.”
1Kosmos CEO Hemen Vimadalal added, “We are honoured to welcome Ron as a strategic investor and were able to attract someone of his stature because he is aligned with our belief that we can’t get rid of passwords unless we eliminate the silos between authentication and identity verification.”
1Kosmos recently formed a cross-product strategic partnership with AuthenticID to offer a suite of identity proofing and authentication solutions to governments, corporations and individuals.
The RegTech company closed a $15m funding round in 2021, alongside the launch out of stealth.
Copyright © 2022 FinTech Global
