NineID, an innovative security technology firm, has successfully closed a seed funding round, raising an impressive total of $2.6m.
The start-up secured the additional $1.2m from its lead investor Pitchdrive, Comate Ventures, and a group of angel investors, which included the founders of Belgium’s success story, Showpad. This follows the initial $1.4m NineID raised during its launch in 2022.
Operating at the crossroads of cyber and physical security, NineID provides modern access control solutions for organisations. The technology firm, spearheaded by founders Roy Jeunen and Frederik Keysers, offers a unique SaaS platform that centralises user identification, certificates, and training. It also provides on-site access management hardware, compatible with QR codes, smartphone scans or facial recognition, to help businesses enhance security and streamline operations.
NineID plans to utilise the fresh funding to accelerate international growth and further its research and development efforts. The investment will bolster the company’s presence in key markets, particularly after the recent opening of a New York office.
In an era where many organisations focus primarily on cybersecurity, NineID’s integrated solution addresses the often overlooked element of physical access management. This is particularly critical considering that badges, often used to grant access to company facilities, are frequently passed around, copied, or stolen, inadvertently creating potential security breaches.
Roy Jeunen, co-founder of NineID, explained, “Companies often lose sight of physical identity and access management when focusing entirely on cybersecurity. Many companies still use badges to access its facilities, while it’s common for these badges to be passed around, copied or stolen. This allows hackers to gain access to company premises and use unattended computers or network ports, opening the literal and figurative door for security breaches.”
Following its initial investment in 2022, NineID has successfully expanded its client base, winning major multinational corporations over with its state-of-the-art technology. The company tested its solution in February by claiming an access badge from an unknowing company, and subsequently accessing all sensitive information just 15 minutes later. This demonstration further highlighted the security flaws in existing systems.
Frederik Keysers, the other co-founder, said, “Until now, those sites have typically relied on outdated systems to process the large numbers of external visitors. Thanks to NineID, they can now be sure that everyone who enters their site is 100% security compliant.”
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