1Kosmos, a cybersecurity firm that provides digital identity proofing and authentication service, on Tuesday announced raising ₹110 crore from ForgePoint Capital. The funding, it said, will be used to accelerate the company’s growth and product roadmap.
“Research has shown that 81% of data breaches are caused by identity and credential compromises,” the company’s CEO Hemen Vimadalal said, adding, “With the help of our expert advisory board and investment from ForgePoint, we are able to make this an issue of the past for all, saving companies and individuals the time, money and hassle associated with outdated security.”
1Kosmos’ portfolio of partners and clients includes Verizon, Hitachi and RSA Security. In India, the company’s clients are primarily from the banking and financial services sector, including IndoStar Capital and 63Moons. Other clients include BYJU’s and Bajaj Electrical.