NineID Raises $1.2 Million in Funding to Enhance Access Control Solution
Introduction
GHENT, Belgium – NineID, the award-winning Belgian access management start-up, has successfully closed its seed round by raising an additional $1.2 million in funding. This brings the total funding raised to $2.6 million, following a previous successful funding round in 2022. The latest funding round was led by Pitchdrive, with participation from Comate Ventures and several business angels, including the founders of Showpad.
A Modern Access Control Solution
NineID‘s innovative solution aims to revolutionize access control with its centralized user identification, certificates, and training documentation platform. In addition, the company provides hardware for on-site access management, utilizing QR codes, smartphone scans, or facial recognition. This modern approach ensures enhanced security, user-friendliness, and administrative efficiency compared to outdated technologies and manual onboarding processes.
The Need for a Modern Access Control Solution
Organizations across various industries, including World Forum The Hague, PSA, A.S. Watson, and Alpro, have joined NineID‘s growing client base in search of a comprehensive access control solution. Traditional access control methods, such as physical badges, are susceptible to sharing, copying, or theft. This makes them vulnerable to security breaches and can lead to unauthorized access to premises, unattended computers, or network ports.
NineID‘s founders, Roy Jeunen and Frederik Keysers, experienced these challenges firsthand while undergoing cumbersome security procedures in their previous roles. They recognized that companies often focus solely on cybersecurity, neglecting physical identity and access management. This oversight creates potential vulnerabilities that hackers can exploit, resulting in significant security risks.
The Importance of Physical Access Security
Security breaches resulting from physical breaches account for over 10% of data breaches, according to sources like IBM. NineID put this theory to the test and successfully infiltrated a company, gaining access to all sensitive information within just 15 minutes. This successful demonstration highlights the critical importance of robust physical access security measures.
Fueling Internationalization and Product Expansion
The additional funding raised by NineID will be utilized to fuel the company’s internationalization efforts and further enhance its access control solution. With the recent opening of a New York office, NineID is poised to expand its global presence and cater to the increasing demand for a modern and secure access control system.
Key Investors and Support from Belgian Tech Landscape
The funding round was led by Pitchdrive, a prominent investor, with participation from Comate Ventures and notable figures in the Belgian technology landscape, including the founders of Showpad and Drupal CMS. This support from experienced investors and industry leaders validates NineID‘s innovative approach and underscores its potential for growth in the market.
Conclusion
NineID‘s successful funding round of $1.2 million reflects the growing recognition of the need for a modern access control solution that prioritizes robust physical access security. The company’s platform offers a streamlined and comprehensive approach to user identification and documentation management, as well as innovative hardware for on-site access management.
As organizations increasingly prioritize data protection and network security, NineID‘s solution addresses a critical aspect often overlooked: physical access security. By providing a centralized and secure system, NineID ensures that everyone entering a site is 100% compliant with security protocols, reducing the risk of unauthorized access and potential security breaches.
With its additional funding, NineID is well-positioned to further enhance its solution and expand its reach globally. The company’s dedication to addressing the limitations of traditional access control methods and providing a modern, comprehensive solution makes it a force to be reckoned with in the evolving landscape of digital age security.
For more information, visit NineID‘s website at Mati Mango >>
The image is for illustrative purposes only and does not depict the actual situation.
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