1Kosmos, a global leader in identity verification and passwordless authentication, has raised $57 million in Series B funding to accelerate the adoption of secure, privacy-first digital identity solutions. The round was led by Forgepoint Capital, with participation from Oquirrh Ventures, Craig Abod, NextEra Energy Ventures, Gula Tech Adventures, and the 1Kosmos management team.

Founded by Hemen Vimadalal, 1Kosmos is redefining how organizations authenticate and verify identities, ensuring both security and compliance in a world where cyber threats are escalating.

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Redefining Identity Verification

1Kosmos delivers a decentralized identity platform that eliminates passwords and strengthens authentication with advanced biometrics, blockchain technology, and AI-powered identity proofing. Through its flagship BlockID platform, organizations can:

• Verify user identities against authoritative sources like government-issued IDs
  
• Enable passwordless login with biometric multi-factor authentication
  
• Meet regulatory compliance under GDPR, CCPA, and NIST standards
  
• Prevent account takeover fraud with immutable blockchain-backed identity records
  

By marrying usability with enterprise-grade security, 1Kosmos is eliminating one of the most persistent weaknesses in cybersecurity: the password.

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Why This Funding Matters Now

The global digital identity market, valued at $34.5 billion in 2024, is on track to hit $83.2 billion by 2030—driven by zero-trust mandates, compliance pressure, and the rapid digitization of services. Cybercrime is projected to cost $10.5 trillion annually by 2025, with over 80% of breaches involving stolen credentials.

This is where many security products stumble: they either excel at compliance but introduce friction for users, or they deliver convenience but fail to satisfy regulatory and security standards. The rare winners are those that hit both marks at once. For founders, that’s the real blueprint—integration over imposition. If your solution folds into an enterprise’s existing architecture while elevating both compliance and user experience, you’re not selling a “replacement” that invites resistance—you’re selling an upgrade they can’t afford to ignore. 1Kosmos has embedded itself in that zone, making it easier for large organizations to say “yes” by aligning with their current workflows instead of forcing costly change management.

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Competitive Advantage

While identity and access management giants like Okta, Ping Identity, and Microsoft Azure AD dominate market share, 1Kosmos stands apart with:

1. Decentralized Identity Architecture – Removes centralized credential databases, reducing breach risk.
   
2. Immutable Blockchain Ledger – Tamper-proof identity records for unmatched auditability.
   
3. Advanced Biometrics – Face, fingerprint, and voice recognition with strong privacy safeguards.
   
4. Truly Passwordless Onboarding-to-Login Experience – Eliminates passwords entirely at every stage.
   

Gartner predicts 60% of large enterprises will adopt passwordless authentication by 2025—making 1Kosmos perfectly positioned for accelerated growth.

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Strategic Backing

The Series B brought together a high-caliber group of investors:

• Forgepoint Capital – Cybersecurity-focused VC with a deep security portfolio.
  
• Oquirrh Ventures – Growth-focused investors in transformative tech.
  
• Craig Abod – Government and enterprise sales leader through Carahsoft Technology Corp.
  
• NextEra Energy Ventures – Innovation arm investing in scalable digital solutions.
  
• Gula Tech Adventures – Cybersecurity veterans Ron and Cyndi Gula, known for scaling security innovators.
  

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Industry Outlook: Passwordless Future

The passwordless authentication market is projected to grow from $14.8 billion in 2024 to $53.6 billion by 2030 at a 23.1% CAGR. Meanwhile, Gartner forecasts that by 2026, 75% of government agencies will offer at least one citizen-facing service with verifiable credentials—creating fertile ground for compliant, scalable identity platforms like 1Kosmos.

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What’s Next for 1Kosmos

With its fresh funding, 1Kosmos will:

• Expand product capabilities, enhancing biometrics, blockchain integrations, and AI-driven fraud prevention
  
• Grow its enterprise and public sector customer base in finance, government, and critical infrastructure
  
• Deepen integrations with IAM systems and developer tools for rapid adoption
  
• Pursue global expansion in high-adoption regions like Europe, Asia-Pacific, and the Middle East
  

The company will also invest in developer resources to make BlockID easier to embed into third-party applications.

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The Bigger Picture

The race to eliminate passwords is more than a security trend—it’s becoming a fundamental requirement for doing business in a digital-first world. 1Kosmos is carving out its place as not just a technology provider, but a trusted partner in building secure, compliant, and user-friendly identity ecosystems.

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