Keyless Brings Total Funding to $10m in 18 Months to Fuel Rapid Growth

• Keyless raises $2m in a strategic round after achieving over 700% year-over-year growth in 2024.

• Supported by Experian Ventures and Rialto Ventures, the funding will strengthen expansion in North America and advance technological development.

[Jan 22, 2025] – Keyless, the leader in privacy-preserving biometric authentication, has raised $2m in a selective funding round led by existing investors Rialto Ventures and Experian Ventures. This investment brings its total funding to $10m in the past 18 months and will support Keyless’ plans for continued growth in 2025, building on its success in 2024.

Keyless uses facial biometrics to authenticate users in a privacy-preserving way. In 2024 the company experienced rapid growth with new customers in the UK, EU, and North and South America. The company serves multinational customers across the banking, fintech, crypto, and gaming sectors. Keyless also increased its presence in the US, welcoming industry experts Sarah Clark and Charles Walton, both former SVPs at MasterCard, as advisors, and hiring North American Sales and Technical Services Directors.

“2024 was a transformational year for both Keyless and the broader industry,” said Andrea Carmignani, Co-Founder and CEO of Keyless. “The biometric identity market for financial services is expected to grow at a remarkable CAGR of 41% over the next three years, reaching $40 billion globally. At Keyless, we have already seen a significant shift in the adoption of privacy-preserving biometrics that can reduce fraud whilst improving the user experience at the same time. We’re looking forward to what 2025 will bring.”

Looking ahead, the new funding will help Keyless accelerate its North American expansion, attract more customers, and introduce breakthrough innovations. These include enhancing its industry-leading privacy-preserving solutions further for upcoming projects, such as tackling injection attacks used in advanced deepfakes. Exciting new features are also in development to push the boundaries of biometric authentication, with further announcements expected later in the year.