NineID Raises $2.6M to Build a Secure Bridge Between the Digital and Physical Worlds of Corporate Security

PRESS RELEASE

GHENT, Belgium, June 20, 2023 /PRNewswire/ -- After raising $1.4 million in 2022 and successfully launching its product, award-winning Belgian access management start-up NineID announced raising another $1.2 million, successfully closing its $2.6 million seed round. The funding came from lead investor Pitchdrive, Comate Ventures, and several business angels (including Showpad's founders). NineID just opened a New York office and has customers like World Forum The Hague (who recently welcomed Ukrainian president Zelensky). The funds will be used to fuel internationalization and product expansion.

Organizations such as World Forum The Hague, PSA (world's largest port group), A.S. Watson (world's largest international health & beauty retailer), Alpro (part of Danone Group), and dozens of other multinationals joined NineID's client base in search of one thing: a modern access control solution. Other technologies are outdated and offer limited security. In addition, manual onboardings and check-ins are not user-friendly and can lead to administrative chaos.

The company offers a SaaS platform that centralizes user identification, certificates, and training documentation, making it easily accessible for audits. In addition, NineID provides hardware for on-site access management, utilizing QR codes, smartphone scans, or facial recognition.

The founders, Roy Jeunen and Frederik Keysers, built the solution while experiencing cumbersome security procedures themselves. "In previous roles we underwent long queues and countless security checks prior to getting site access via (RFID) badges. Anyone can pass on this badge, making the whole process useless," says Roy.

"Companies often lose sight of physical identity and access management when focusing entirely on cyber security," adds Roy. "Physical badges are often prone to sharing, copying, or theft — allowing hackers to gain access to unauthorized premises and use unattended computers or network ports. This opens the literal and figurative door for security breaches."

NineID put their theory to the test by successfully infiltrating an unknowing company and accessing all sensitive information within 15 minutes. "Physical breaches are responsible for over 10% of data breaches, according to sources like IBM. NineID's solution ensures that everyone entering a site is 100% security compliant," says Frederik.

To further expand internationally and enhance their solution, NineID secured additional funding from Pitchdrive and prominent figures in the Belgian technology landscape, such as Comate Ventures, the founders of Showpad, and Drupal CMS' founder.

For more information: nineid.com

SOURCE NineID