Today in Ghent, corporate security startup NineID announces $1.2 million in funding, successfully closing its $2.6 million seed round — (it previously raised $1.4 million in 2022).
NineID acts as an interface between the cyber and physical worlds using user-friendly solutions that increase access security, corporate site security and privacy compliance.
The startup's offerings include a privacy-compliant SaaS platform for documentation that centralizes user identification, certificates and training (making documents easily available for audits), and the hardware devices needed for on-site access management, which work with QR codes, smartphone scans, or facial recognition.
Roy Jeunen and Frederik Keysers founded NineID in response to previously experiencing cumbersome security procedures:
Jeunen shared that "every company still works with badges, a system that has been around for 30 years."
In previous roles, the duo underwent tedious queues and security checks prior to getting site access via (RFID) badges.
However, "Anyone can pass on this badge, making the whole process useless."
"Companies often lose sight of physical identity and access management when focusing entirely on cyber security.
Physical badges are often prone to sharing, copying, or theft – allowing hackers to gain access to unauthorized premises and use unattended computers or network ports. This opens the literal and figurative door for security breaches."
NineID put its theory to the test by successfully infiltrating an unknowing company and accessing all sensitive information within 15 minutes.
"Physical breaches are responsible for over 10% of data breaches, according to sources like IBM. NineID's solution ensures that everyone entering a site is 100% security compliant," says Keysers.
The company is going places, recently opening an office in New York. Its solutions are used by many top-tier companies, including World Forum The Hague, the world's largest port group PSA, Alpro (Danone Group), and dozens of other multinationals.
To further expand internationally and enhance their solution, NineID secured today's additional funding from Pitchdrive, Comate Ventures, and various business angels including the founders of Showpad, and Drupal CMS' founder.