Keyless, a London-based company specializing in privacy-preserving biometric authentication, recently secured an additional $6M in funding. This brings their total amount raised to $26M. The funding round was led by Rialto Ventures and will be used to support the expansion of Keyless' operations and broaden their business reach. Led by CEO Andrea Carmignani, Keyless is dedicated to unifying the end-to-end identity lifecycle using privacy-preserving biometric authentication. Their technology ensures the genuine identity of the user throughout various stages, such as onboarding, account creation, transaction signing, and account recovery. In addition, it provides robust protection against identity theft and complies with global data protection and privacy regulations, including GDPR.
Andrea Carmignani emphasized the growing need for stronger fraud defenses in various sectors.
He highlighted the limitations of current authentication methods, particularly during account recovery. Keyless aims to address these shortcomings by offering a secure and efficient biometric authentication solution.
Furthermore, this funding round marks an important milestone for Keyless as it is their first round as an independent company. Earlier this year, Keyless and its parent company Sift mutually agreed to separate after identifying that their respective products were better suited to different markets. This strategic move allows Keyless to focus on further developing and improving their unique privacy-preserving biometric authentication technology.