The provider of a distributed digital identity platform has reached new revenue and customer acquisition milestones.
1Kosmos, the only firm that combines identity proofing with passwordless authentication, has announced record revenue for 2021, including a 5X increase in bookings, a 3X rise in new clients, and a 2X increase in staff. Last year, the startup received $15 million in Series A funding from Forgepoint Capital.
“The accelerating use of biometrics and mobile devices for authentication is paving the way for a passwordless world,” said Hemen Vimadalal, CEO for 1Kosmos. “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.”
1Kosmos has entered into several strategic go-to-market partnerships for the 1Kosmos BlockID platform, in its first year of commercial sales.
BlockID is the underlying technology used by major telecom providers in the United States to create trust based on a user’s mobile device, account, and location. Leading Fortune 100 financial organisations also utilise it to give staff identity verification and passwordless access.
2021 Business Highlights
Since emerging from stealth mode in February 2021, 1Kosmos has achieved the following milestones:
- BlockID has been deployed and is being used to manage more than 50 million identities
- Expanded its partnership with Hitachi Systems Micro Clinic to enter the growing APAC market
- As winner of the 2021 Alestra NAVE Program, 1Kosmos has partnered with Alestra, Axtel ICT services business unit to bring BlockID to the Mexican market
- Expanded leadership team with the appointment of new executives Michael Cichon from Agari as CMO, Kevin Brown from Saviynt as CRO, and Javed Shah from ForgeRock as VP of Product Management
- Was named to Fast Company’s First-Ever List of the Next Big Things in Tech that honors technology breakthroughs that promise to shape the future of their industries
- Cited in analyst reports by Forrester, Gartner, KuppingerCole, TAG Cyber and TechVision Research
- Became the first identity platform to achieve both FIDO2 and NIST 800-63-3 certification
- Received iBeta certification for biometric accuracy
- Received ISO/IEC 27001 certification
- Introduced app-less authentication for passwordless logins via a mobile device or laptop
- Rolled out a Passwordless Identity Package for enterprise workforces
- Added new SIM (subscriber identity module) binding capabilities that prevent online fraud