NineID, after announcing its inception and $1.4 million investments in 2022, now bolsters its seed round to a total of $2.6 million by adding another $1.2 million. This infusion of additional funds was possible through lead investor Pitchdrive, Comate Ventures, and numerous business angels, which included the founders of the successful Belgian enterprise, Showpad. This announcement comes shortly after the company expanded its presence with a new office in New York and partnered with the World Forum The Hague, a platform that recently hosted Ukrainian President Zelensky. The funds from this round will be channeled into bolstering international expansion and research and development efforts.
World-renowned organizations such as World Forum The Hague, global port conglomerate PSA, and leading international health & beauty retailer A.S. Watson, along with numerous other multinational firms, have aligned themselves with NineID in pursuit of an innovative access control solution. Their current technologies are outdated and provide subpar security. Traditional manual check-ins and onboardings are not only inefficient but can also result in administrative mayhem.
NineID serves as a conduit between the virtual and the physical world, utilizing intuitive solutions that enhance access security, corporate site safety, and compliance. The start-up's solutions encompass a SaaS platform for record keeping that centralizes user identification, certificates, and training, ensuring swift document access for audits, as well as the required hardware for on-site access management that functions with QR codes, smartphone scans, or facial recognition.
The founders, Roy Jeunen and Frederik Keysers, conceived this solution through their own encounters with tedious security protocols. "In our former roles, we endured long queues and numerous security checkpoints before obtaining site access through (RFID) badges. Should I pass on this badge, the entire process would have been in vain," comments Roy.
Roy continues, "Corporations often neglect physical identity and access management while concentrating exclusively on cybersecurity. Numerous companies still use badges for facility access, despite the fact that these badges are often shared, copied, or stolen. This enables hackers to infiltrate company premises and exploit unattended computers or network ports, creating opportunities for security violations."
In February, NineID validated their hypothesis by successfully procuring an access badge from an unsuspecting company and accessed sensitive information merely 15 minutes later. The demonstration was broadcasted on their YouTube channel. Frederik adds, "Reports such as IBM's 2020 Cost of a Data Breach show that physical intrusions, along with social engineering, are responsible for over 10% of data breaches. Until now, those sites have largely depended on obsolete systems for processing external visitors. With NineID, they can now confidently ensure that everyone entering their site meets all security standards."
Earlier this year, the company set up a branch in New York to cater more efficiently to the US market. To further their international reach and strengthen their solution, NineID secured additional funding from lead investor Pitchdrive and a host of renowned figures in the Belgian tech scene. Comate Ventures, Louis Jonckheere and Pieterjan Bouten (founders of Showpad), Dries Buytaert (founder of Drupal CMS), among other entrepreneurs are backing this vital growth phase of the company.
Boris Bogaert, co-founder of Pitchdrive, commented, "NineID’s unique mix of hardware and software for user identification and access control positions them distinctively in the market compared to competitors using conventional badge control. This advantage has been demonstrated by their impressive growth over the past months, with numerous corporate sites globally transitioning to NineID. We are excited by the progress they have made in the past year and look forward to being a part of their future expansion."
Roy Jeunen concludes, "As the industry gradually transitions from badge systems, which have been prevalent for 30 years, to mobile credentials and biometrics, our goal is to establish NineID as the leading international provider of these solutions."
NineID is a trailblazing technology firm that is transforming the way security solutions are perceived. With a focus on security, access flows, and safety protocols, NineID enables businesses to heighten security, streamline processes, and ensure compliance. Headquartered in Ghent with a branch in New York, NineID leverages cutting-edge technologies like biometric verification and sophisticated data analytics. Their platform automates and centralizes intricate procedures for smooth and secure access flows. NineID’s vision is to equip global enterprises with advanced compliance and security solutions, enhancing efficiency while minimizing security threats.
NineID was initiated by Roy Jeunen and Frederik Keysers, both seasoned professionals in offshore oil & gas, aviation, and logistics.
We're always looking for new partners and investment possibilities:
🌱 Pre-seed and seed stage (ticket size 200k-500k)
🏎 Highly product and scale driven
🇪🇺 European focussed
🕸 Industry agnostic