Keyless, a UK startup specialising in biometric authentication technology, has successfully completed a significant funding round.
The company, known for its innovative approach to secure identity verification, has raised $6m in this latest round. This financial boost was spearheaded by Rialto Ventures, marking a crucial milestone in Keyless’ journey.
According to Security Week, this round is particularly noteworthy as it represents Keyless’ first major financial foray since becoming an independent entity, following its spin-off from the parent company Sift earlier this year.
At its core, Keyless is dedicated to revolutionising the way we understand and use biometric authentication. The company’s technology is designed to unify the entire identity lifecycle. This includes everything from the initial onboarding and account creation processes to more complex requirements like transaction signing and account recovery, all while adhering to stringent privacy standards like the GDPR.
Keyless’ technology stands out for its ability to combat issues such as account takeover attacks and identity theft. It ensures compliance with global data protection and privacy regulations, a critical factor in today’s digital world. Their flagship product, Zero-Knowledge Biometrics, is particularly innovative. It guarantees high-level multi-factor security without storing any biometric data, a feat achieved by a simple glance at the camera.
The company intends to use the new funding to further refine and expand its biometric authentication solutions. Their focus is on creating universal biometric profiles that can reliably verify a user’s identity at any point in the lifecycle, without the need to store sensitive biometric data.
Previously, Keyless has raised a total of $20m in various funding rounds, showcasing the consistent confidence investors have in the company’s vision and technology.
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