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Mobile authentication startup sees revenue of $40M in 2025

Keyless reveals annual recurring revenue jump
Categories Biometrics News  |  Trade Notes
Mobile authentication startup sees revenue of $40M in 2025

A biometric mobile authentication startup in London and India is predicting its revenue will grow 66 percent between now and 2025.

At the same time, privacy-focused biometric authentication vendor Keyless has reported a 172 percent increase in annual recurring revenue and is staffing up to expand geographically.

Biocube is claiming it will report revenue of $24 million next year and $40 million in 2025, a statement many biometrics companies wish they could make as well. The company is making the prediction based on contracts.

India news agency PTI published a short announcement last week. Biocube only began full operations this year, after a soft launch early last fall. In March, it was awarded a U.S. patent for distributed architecture-based contactless multifactor biometrics software.

Biocube’s headquarters are in London and a significant portion of its workforce is in India, although the United Kingdom address could be for show.

Company executives announced a 30 million rupee (US$360,000) series A round of financing exactly two years ago, according to business database publisher CrunchBase. Biocube had a pre-money valuation of $150 million.

Keyless, meanwhile, this summer said its second-quarter recurring revenue rose 172 percent.

CEO Andrea Carmignani issued a statement this summer chalking the jump to businesses searching for passwordless products to “fight back against credential stuffing, phishing and impersonation scams.”

Also, this summer, Carmignani hired Dario Salice as chief product office and Danielle Labarbera as the North American sales director.

This spring, Keyless announced strategic partnerships with consumer credit-reporting firm Experian and financial services consultant Synpulse.

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