Proxy Raises $13.6M in Series A Funding Led by Kleiner Perkins, Emerges from Stealth to Launch Its Universal Identity Signal for Frictionless Access to Everything in the Physical World
SAN FRANCISCO, March 27, 2019 (GLOBE NEWSWIRE) -- Proxy, a startup dedicated to empowering all people with a universal identity signal, announced today that it has raised $13.6M in Series A funding in a round led by Kleiner Perkins with participation from WeWork, Y Combinator, Coatue Management and leading industry executives. This brings Proxy’s total funding to $16.6M to date. With this announcement, Proxy comes out of stealth to launch Proxy Signal ™, a smartphone-powered universal identity signal that brings frictionless access and personalized experiences into today’s rapidly changing workplace.
Today people must use a multitude of keys, cards, badges, apps, and passwords to gain access to the buildings, devices, and services they frequently use. Proxy is changing the way people interact with the things they use every day by giving them one secure and privacy-driven universal identity signal, called their Proxy Signal, that is emitted from their smartphone, works everywhere, and goes beyond access to enable responsive environments.
“There are 20 billion connected devices and 7.5 billion humans on earth. We believe Proxy Signals are the future of how everyone will securely authenticate and interact with everything in the physical world,” said Proxy CEO and co-founder, Denis Mars. “To achieve this, we created an entirely new identity protocol over Bluetooth Low Energy (BLE) that represents humans in the physical world via their smartphones.”
Proxy’s initial product line provides people with mobile access throughout commercial buildings and the workplace — for instance, secured doors, elevators and turnstiles. Proxy is already in use by more than 50 companies – driven by an urgent demand for eliminating keycards, badges, visitor passes, ID cards and QR codes. A recent survey of office workers found that about half must take out their keycard or fob at least five times a day at the office, and about one in five has lost their keycard at least once in the last year - creating security concerns and significant administrative overhead for security teams that Proxy resolves.
“The big idea behind Proxy – that people can use a secure, universally accepted digital identity signal on their smartphone to access important things in the physical world – is incredibly timely and exciting, and it’s what attracted us to invest in the company,” said Wen Hsieh, General Partner at Kleiner Perkins. “Proxy’s initial physical access market is large and untapped, and the applicability of the technology to other verticals is obvious. There is tremendous potential here, and my partners and I are excited to back this team.”
“We developed this technology to create the kind of frictionless world we ourselves want to live in: one where technology empowers us and then gets out of the way,” said Mars. “We’ve seen what happens in the online world where technology is designed to track us and own our attention, so we think it’s important to offer a privacy-driven way to own and empower your identity as the digital and physical worlds merge.”
Earlier this year, Proxy partnered with WeWork to implement Proxy Signal at the company’s headquarters in New York and San Francisco, helping provide WeWork employees with seamless access to their workspace.
“At WeWork, we use technology to connect our member communities and our employees around the world,” said Jack Krawczyk, VP of Product Management at WeWork. “Proxy has developed an innovative product that enables us to explore new ways to more seamlessly connect our members with their workspaces, and we look forward to supporting them in their journey.”
Another early Proxy customer is Dropbox, which wanted a better way to enable frictionless access at its San Francisco headquarters. “With Proxy, we can give our employees, contractors, and visitors a seamless smartphone-enabled access experience they love, while actually bolstering security,” said Christopher Bauer, Physical Security Systems Architect at Dropbox.
How Proxy worksProxy employs its patented tokenized access engine and universal identity protocol built on top of Bluetooth Low Energy (BLE) to enable any smartphone or wearable to passively and securely emit a signal that represents the user. People create their Proxy identity within the Proxy ID™ app and then activate their Proxy Signal. Users own their identity and personal data and have complete control of the devices that can interact with their Proxy Signal. Users must opt-in and explicitly grant permissions to any device, product or organization they connect with, ensuring the user always has full visibility and control over how their signal is being used in real time.
Proxy’s frictionless workplace solution is available immediately. The Proxy ID app can be downloaded on the iOS App Store and Google Play, and the full line of Proxy mobile readers for buildings and workplaces can be viewed and purchased at proxy.com. Proxy also publishes a comprehensive set of APIs and SDKs, enabling all products and devices to join the Proxy network to serve people in new and exciting ways.
The company is continuously expanding its building and workplace offerings, enabling responsive environments with context-aware capabilities such as automatic visitor check-ins, smart meeting room booking, responsive desks and workstations, and seamless conference activation, while also developing innovative, identity-empowered solutions for other markets.
About Kleiner PerkinsFor five decades, Kleiner Perkins has partnered with some of the most ingenious founders in technology, helping them make history with their bold ideas. Through twenty venture funds and four growth funds, we’ve invested $10 billion in hundreds of companies including pioneers such as Amazon, Genentech, and Google. Today, Kleiner Perkins continues to invest in founders and their bold ideas helping them to make history. For more information, visit www.kleinerperkins.com and follow us on Twitter @kleinerperkins.
About Proxy Proxy is on a mission to empower every person on the planet with a unique identity signal they own and control. The signal, emitted from a smartphone, allows people to securely authenticate to any device or service, similar to a universal single-sign on for the physical world. Today, large enterprises like WeWork, Dropbox, and Hines enable their employees, contractors, visitors, and tenants to use their Proxy for frictionless access through secured doors, elevators, and turnstiles, and to create personalized experiences throughout the workplace. With Proxy, users own their identity and have complete control over their privacy and personal data. Learn more at www.proxy.com and follow us on Twitter @proxy.
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