Arkami closes $1.8M series A funding round
Arkami has just closed a $1.8 Million Series A round of financing and plans to use the money to fuel its growth and to satisfy consumer demand.
Arkami, the creator of MyIDkey also recently made a big splash with a Kickstarter campaign, reaching its funding goal with ease. BiometricUpdate.com wrote about the company’s Kickstarter campaign in February, and noted how quickly the campaign was gaining traction. Between writing and publishing that piece, Arkami’s campaign gained over 20 fresh backers.
According to the Kickstarter campaign page, Arkami exceeded its original $150,000 goal and raised nearly half a million dollars, through its nearly 4,000 backers. Through the same campaign, the company says it sold more than 5,000 units in 30 days.
The company’s flagship product, the myIDkey, is a fingerprint, voice-search secure Bluetooth and USB drive that displays passwords and IDs to verified users or enters them automatically. According to Arkami, myIDkey was unveiled at the Consumer Electronics Show in Las Vegas earlier this year, where it won three Innovation Awards in the categories of Computer Peripherals, Accessories and Personal Electronics.
This most recent round of funding includes investments from Gordon Clemons, McNeel Capital and Mark Swanson, as well as a number of other veteran angel investors. The company intends to use this new capital to accelerate the development of myIDkey, meet its growing demand and to facilitate company growth.
“This funding round is a great vote of confidence in our vision for myIDkey to replace the need for passwords,” said Benjamin Chen, CEO, Arkami. “We are very excited to have these strategic professional investors to help guide the growth of the business.”
Reported previously, Arkami announced the Middle East launch of myIDkey in March.