Digital identity Company Proxy Raises $42 Million In Series B Funding

Digital identity Company Proxy Raises $42 Million In Series B Funding

by NeoTech Post

Proxy, a provider of frictionless smartphone-based access solutions, raised $42 million in a Series B funding round.

Scale Venture Partners led the round with participation from Kleiner Perkins, Y Combinator, Silicon Valley Bank, and West Ventures. The company plans to use the new funds to accelerate the expansion of its technology set and international growth across Asia, Europe, and North America.

Proxy empowers people with a personal identity signal for universal access. The signal, emitted from a smartphone, can give people frictionless access to any space or device, similar to a universal single sign-on for the physical world. Large enterprises like Doordash, Dropbox, and Accenture enable their employees, visitors, and tenants to use their Proxy signals for frictionless smartphone-based access through secured doors, elevators and turnstiles, and to create personalized experiences throughout the workplace. 

Beyond the workplace, Proxy aims to standardize physical world identity verification and service personalization across industries such as ride-sharing, commercial and public transportation, hospitality, and entertainment. 

“It’s fantastic to see the enthusiasm commercial real estate and enterprises have for creating new experiences with identity signals,” said Denis Mars, Co-Founder and CEO of Proxy. 

“With this new round, we’re going to double down on transforming the workplace experience and begin expanding into new verticals. We’re turning Proxy into the de facto digital identification technology for the physical world and look forward to working with Scale and our other investors to do so.”