The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 1/18/2022 featuring funding details for Pinwheel, Anonybit, and much more.
The pandemic has exponentially increased the number of digital interactions. The unprecedented, rapid, and massive shift to remote work introduced new security vulnerabilities. Companies were forced to ensure that identity management and private data was protected just as it was in a traditional office setting, introducing new challenges to address the new reality. 55% of business leaders recently surveyed indicate that their companies made investments in new identity security capabilities since the start of the pandemic. Anonybit is a provider of biometrics infrastructure solutions that allow security and identity solutions providers and enterprises to decentralize biometric data into anonymized bits that reside in a peer-to-peer network. Available as an SDK, Anonybit is a lightweight, easily integratable solution that is versatile enough to serve the Identity and Access Management (IAM) market in the enterprise and also consumer-facing needs such as password/account management for user accounts. With sensitive data now spread across the network, companies become less prone to attacks from hackers and data becomes more secure as there isn’t a central database to serve as a target. AlleyWatch caught up with Anonybit Founder and CEO Frances Zelazny to learn more about the benefits of decentralization when it comes to personal data and identity solutions, the company’s total addressable market, future strategic plans, and recent round of funding from Switch Ventures, NextGen Venture Partners, Industry Ventures, Preceptor Capital, and several strategic angel investors.