1Kosmos, which claims to be the only cybersecurity platform to offer digital identity proofing and passwordless authentication, has bagged $15m in funding.
With the close of the round, 1Kosmos has come out of steal mode to offer its services to the market.
The capital was supplied by cybersecurity-focused investment firms ForgePoint Capital.
1Kosmos plans to use the fresh equity to accelerate its growth and product roadmap.
The RegTech company claims to be the only cybersecurity solution that combines digital identity proofing with advanced biometric and passwordless authentication, whilst storing user data encrypted on blockchain.
1Kosmos CEO Hemen Vimadalal said, “Research has shown that 81% of data breaches are caused by identity & credential compromises.
“With the help of our expert advisory board and investment from ForgePoint, we are able to make this an issue of the past for all – saving companies and individuals the time, money and hassle associated with outdated security. We are here to solve a 60-year-old digital identity and credential problem in less than 60 minutes.”
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