1Kosmos secures $57m for passwordless authentication

US-based 1Kosmos has completed its Series B funding round, securing $57m to enhance its identity verification and passwordless authentication platform.

This funding includes a $10m credit line from Bridge Bank, with Forgepoint Capital and Origami’s Oquirrh Ventures leading the round. Additional participants include Craig Abod of Carahsoft, Gula Tech Adventures, NextEra Energy Ventures, and the management team of 1Kosmos.

This latest investment brings 1Kosmos's total funding to more than $72m, following a $15m Series A round in early 2021 from ForgePoint Capital.

The company provides remote identity verification and passwordless multi-factor authentication solutions across sectors such as banking, telecommunications, healthcare, and retail. Its platform integrates identity proofing, credential verification, and secure authentication to prevent identity fraud while maintaining user privacy.

1Kosmos focuses on unifying identity verification with passwordless authentication without third-party multi-factor authentication add-ons. It uses a private blockchain to encrypt personally identifiable information and leverages AI for adaptive authentication and threat detection.

Forgepoint Capital managing director Ernie Bio said: “The mission at 1Kosmos since its inception has stayed remarkably focused on providing individuals with a secure digital identity, one they control and use to prevent identity fraud when accessing digital services.

“As the largest investor in the company, we are proud of their track record of innovation and delighted to see their accelerating growth.”

The Series B funding aims to address rising enterprise demands for identity-first security solutions amid increasing threats like impersonation and social engineering. 1Kosmos employs technologies such as live biometrics and phishing-resistant authentication to counter these threats.

According to 1Kosmos, the funds will drive product innovation and global expansion. These will also be used for scaling sales in North America as well as in Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC).

Furthermore, the company plans to deepen technology integrations with various identity and access management platforms.

1Kosmos CEO Hemen Vimadalal said: “Identity has become the first step in the kill chain. This investment allows us to strengthen the proactive controls organisations need to prevent impersonation-based attacks—whether it’s a sophisticated hacking group or a state-sponsored developer hiding in plain sight.

“1Kosmos identity verification is the only practical solution that can be quickly deployed in a matter of hours to effectively combat this threat.”

Story ContinuesRecent achievements for 1Kosmos include becoming the only full-service Kantara-certified credential service provider with FedRAMP High authorisation, certifying its platform for handling sensitive US government workloads.

In partnership with Carahsoft, 1Kosmos secured a ten year, $194.5m agreement to supply identity proofing services to Login.gov.

"1Kosmos secures $57m for passwordless authentication" was originally created and published by Verdict, a GlobalData owned brand.

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