Team Startupcity

• Raised $57 million in Series B funding led by Forgepoint Capital and Origami’s Oquirrh Ventures.
• Focus on expanding markets in North America, Asia-Pacific, Middle East, and India.
• Investing heavily in AI-enhanced passwordless authentication and biometric security solutions.

Cybersecurity startup 1Kosmos, founded by Hemen Vimadalal, has secured $57 million in a Series B funding round led by Forgepoint Capital and Origami’s Oquirrh Ventures.

The round also includes a $10 million line of credit from Bridge Bank and participation from notable investors such as Craig Abod, Founder and President of Carahsoft, NextEra Energy Ventures, Gula Tech Adventures, and the 1Kosmos management team. Before this, 1Kosmos had raised $15 million in a Series A round in 2021.

The new funding will be spent in three main areas, according to CEO Hemen Vimadalal: go-to-market efforts, research and development, and hiring talent. The firm, which is now operating in North America and the Asia-Pacific region, will deepen its footprint there as well as in the Middle East and India by establishing new offices.

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A third of the investment will be used to further boost R&D activities, especially by adding AI capabilities to all of its offerings. 1Kosmos is a passwordless authentication company that makes use of live biometrics, identity that has been verified, and phishing-resistant technologies.

Vimadalal stressed,  

Identity has become the starting point of the kill chain. This investment will allow us to harden the proactive defenses organizations require to stay ahead of impersonation-based attacks be it those master groups of hackers or state actors.

With AI-based cyber threats, including voice and facial impersonation, gaining traction, 1Kosmos is seizing growth opportunities in emerging markets. The startup has seen its business triple year-over-year for the last two years and anticipates this momentum to sustain. "We are solving the issues of cybersecurity and user experience," Vimadalal said. The firm works with customers in financial services, telecom, retail, and healthcare industries.