Investment Supports The Advancement and Expansion of Alcatraz AI's Autonomous Access Control Solutions as Demand for Frictionless Authentication Solutions Soars
CUPERTINO, Calif., Sept. 13, 2022 /PRNewswire-PRWeb/ -- Alcatraz AI, the leader in autonomous access control using industry-leading 3D facial authentication and AI to create safe spaces, has raised a $25M Series A round. The round was led by Almaz Capital and included EBRD (The European Bank for Reconstruction and Development), Endeavor Catalyst, Silverline Capital, and Golden Seeds, along with participation from existing investors JCI Ventures (the corporate venture arm of Johnson Controls), Ray Stata, and LDV Partners.
"At Alcatraz AI, we believe that safety and security is the first principle, and we are committed to leading a new era of frictionless access control by leveraging the unique power of the human face to make accessing spaces as secure, quick and easy as unlocking your phone," said Tina D'Agostin, CEO of Alcatraz AI. "We are excited to enter the next phase of our company's growth by partnering with our investors with a strong track record scaling companies globally that deliver next generation technology."
The $70B physical access control market is in need of next generation solutions that enable more modern and secure ways of unlocking where people work, live, study and play. Today, the most commonly used credential to enter secured spaces is an access card that can be lost, replicated, or stolen. Alternative technologies, such as mobile and legacy biometric systems have not gained mainstream momentum due to implementation and user challenges.
Since its founding in 2016, Alcatraz AI set out to transform the experience of entering spaces in the most highly secure manner, while enabling a completely passive and frictionless use case at doors for occupants and the security teams that manage them. Alcatraz AI's flagship product, the Rock, is deployed at some of the most successful enterprises in the world, including 25 of the Fortune 500. Since 2020, the company has seen massive growth in the US and globally, with over ten countries deploying Alcatraz solutions, securing over 1 million employees.
Almaz Capital, a venture capital fund headquartered in Silicon Valley with offices in Berlin, focuses on disruptive deep-tech companies in the B2B software space.
"We are thrilled to add Alcatraz AI to our portfolio of 25 companies," said Daniil Stolyarov, Partner, Almaz Capital. "Almaz is always on the lookout for technology applications that disrupt and transform established industries. Alcatraz applies artificial intelligence to ensure that security, privacy, and convenience is possible for autonomous access control."
Alcatraz AI will focus on global expansion and product innovation to meet a variety of use cases as organizations continue to modernize their access control systems.
"We are excited to support the team as it scales its biometric authentication technology to make entrance to buildings and spaces secure and frictionless," notes Aziza Zakhidova, Principal, EBRD'S Venture Capital team, an early and growth stage equity investor for technology companies out of emerging Europe.
For more information on Alcatraz AI autonomous access control solutions, visit http://www.alcatraz.ai.
About Alcatraz AI:
Alcatraz AI transforms access control by leveraging artificial intelligence and analytics to make powerful decisions at the edge, where your face becomes your credential. Alcatraz's facial authentication technology and intelligent tailgating detection enable enterprises to innovate and future-proof their security strategy. Our state-of-the-art product, the Rock, is designed to be easy to deploy on any access control system, providing an enterprise-grade security solution to protect businesses, people, and assets. Visit http://www.alcatraz.ai for more information and follow the company's updates on LinkedIn.
About Almaz Capital:
Founded in 2008, Almaz Capital is a global VC fund investing in early stage, capital efficient technology companies in high-growth sectors. Almaz Capital has a unique model with the physical presence and network within the Silicon Valley ecosystem and Europe, helping bridge companies from emerging tech regions to the global marketplace and building strong capital efficient engineering teams across different geographies. Almaz Capital focuses on disruptive deep tech companies in the b2b software space, including AI/ML and Blockchain applications, IoT and Edge Computing Enablers, Cybersecurity, etc.
For more information, please visit: http://www.almazcapital.com
About EBRD:
The European Bank for Reconstruction and Development is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. The Bank is owned by 69 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated. Through its Venture Capital Investment Program, the Bank invests in early and growth stage innovative companies operating in technology sectors.
For more information, please visit: http://www.ebrd.com
Media Contact
Linda Ebrahimian, Alcatraz AI, 8186368787, [email protected]
SOURCE Alcatraz AI
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