Identity verification company 1Kosmos has announced the completion of a $57 million funding round, including a credit line from Bridge Bank. These funds will be used to expand its passwordless authentication platform.
Overview of 1Kosmos Funding
1Kosmos has raised $57 million in a Series B funding round led by Forgepoint Capital and Oquirrh Ventures. The total amount of funding now exceeds $72 million, highlighting the growing interest in digital security and identity verification solutions.
Importance of Passwordless Authentication
Passwordless authentication is becoming crucial in the face of increasing cyber threats. The 1Kosmos platform allows for secure verification of a user’s identity before granting access, thus eliminating vulnerabilities inherent in traditional password-based systems. This ensures stronger protection against fraud and unauthorized access.
Investment in Cybersecurity and Innovation
The investment in 1Kosmos signals a broader trend of increasing interest in cybersecurity. This funding will enable the company to accelerate its technology development and expand its global presence, positively impacting a secure digital ecosystem.
The success of 1Kosmos in securing significant investments highlights the need for innovative approaches to cybersecurity. The company’s focus on passwordless authentication and digital verification provides reliable solutions for protecting users and organizations.
