5X growth in passwordless biometrics customers for 1Kosmos in first commercial year
1Kosmos says it reached unprecedented business results growth in 2021, its first year of commercial sales, including a fivefold increase in bookings, threefold increase in new customers for its passwordless biometric authentication and identity proofing. The company also doubled its workforce during the year.
1Kosmos summarizes its achievements last year in the announcement, such as deploying BlockID biometrics to manage 50 million digital identities. It is also the first identity provider to receive both FIDO2 and NIST 800-63-3 certification, according to the announcement, and won the 2021 Alestra NAVE Program, the ICT service provider’s startup accelerator.
In February 2021, the company raised $15 Million in Series A Funding from Forgepoint Capital, exiting stealth mode to reveal its series of BlockID security platform based around biometrics and private blockchain technology. 1Kosmos also passed testing to the DEA EPCS standard for biometric subsystems by iBeta Quality Assurance at the end of 2021.
1Kosmos offers biometrics as part of BlockID Verify, BlockID Workforce and BlockID Customer to provide enterprises and individuals with passwordless authentication and enhanced security, and says it has signed up major telecoms and leading Fortune 100 financial institutions as customers.
“The accelerating use of biometrics and mobile devices for authentication is paving the way for a passwordless world,” Hemen Vimadalal, CEO for 1Kosmos, says. “Our ability to unify identity proofing and authentication in a frictionless way for employees, consumers and citizens enabled us to exceed our business goals in 2021 and set the stage for accelerated growth in 2022.”