1Kosmos Secures $57M to Advance Passwordless Identity-First Security Platform

1Kosmos, a pioneering identity verification firm, has secured $57 million in Series B funding, including a $10 million credit line from Bridge Bank, to advance its identity-first security platform [1]. The round was led by Forgepoint Capital and Oquirrh Ventures, underscoring the growing demand for secure, user-centric authentication solutions in an increasingly digital world. This brings the company’s total funding to over $72 million, reflecting strong investor confidence in its approach to redefining digital trust [1].

The company plans to use the 1Kosmos funding to bolster its research and development capabilities while accelerating its global market expansion [1]. The investment will enable the firm to refine its passwordless authentication platform, which eliminates the vulnerabilities associated with traditional password-based systems. Instead of relying on passwords, the platform verifies a user’s identity before granting access, significantly reducing the risk of data breaches and unauthorized access [1].

With cyber threats becoming more sophisticated, the need for advanced identity-first security solutions has never been greater. Password-based systems, long a cornerstone of digital security, have proven increasingly inadequate in the face of phishing attacks, credential stuffing, and account takeovers. 1Kosmos’s identity-first model shifts the focus from credentials to the identity itself, ensuring that only verified users can access sensitive systems or data [1].

This cybersecurity investment is not just a win for 1Kosmos, but also a sign of broader industry trends. Investors are recognizing the value of innovative approaches that address the root causes of digital insecurity. By prioritizing identity verification as the primary access control, 1Kosmos is positioning itself at the forefront of a transformative shift in how digital trust is established and maintained [1].

The firm’s global go-to-market strategy aims to expand its reach to new markets, enabling more organizations to adopt its secure and user-friendly authentication solutions. As digital interactions become more complex and widespread, the need for robust, passwordless systems is expected to grow. 1Kosmos’s approach not only strengthens security but also enhances user experience by eliminating the need for cumbersome passwords [1].

The rise of identity-first security is being driven by a combination of regulatory demands, consumer expectations, and the increasing frequency of cyberattacks. Businesses are under pressure to protect sensitive data while maintaining seamless digital experiences for users. 1Kosmos’s platform helps strike this balance by offering a secure, streamlined method of verifying user identity without compromising convenience [1].

This significant funding round highlights the importance of cybersecurity innovation in shaping the future of digital interactions. As more organizations prioritize identity-first security, the market is likely to see increased adoption of solutions that move beyond traditional authentication methods. 1Kosmos’s success demonstrates that companies willing to invest in identity-centric models are better positioned to navigate the evolving threat landscape [1].

Source: [1] Identity-First Security: 1Kosmos Secures $57M to Revolutionize Digital Trust (https://coinmarketcap.com/community/articles/689b2dd8b37c031160651941/)