Alcatraz AI, a provider of autonomous access control using 3D facial authentication, has raised a $25 million Series A round.
The round was led by Almaz Capital and included the European Bank for Reconstruction and Development (EBRD), 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.”
In an announcement, Alcatraz AI said the $70 billion 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. Currently, 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.
Alcatraz AI’s flagship product, the Rock, is deployed in 10 countries, including 25 companies listed in the Fortune 500, securing more than one million employees, according to the announcement.
Alcatraz AI, based in Cupertino, Calif., said it 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.
