Bridging the Security Gap: NineID Secures $2.6 Million Funding Round

Belgian start-up NineID raises funding to advance its groundbreaking access management solution that enhances corporate security in the digital and physical realms.

Key Takeaways:

  • NineID secures $2.6 million in seed funding from lead investor Pitchdrive, Comate Ventures, and several business angels, including Showpad’s founders.
  • The company will use these funds to fuel internationalization and product expansion.
  • NineID offers a modern access control solution, incorporating a SaaS platform and hardware for on-site access management, using QR codes, smartphone scans, or facial recognition.
  • The founders, Roy Jeunen and Frederik Keysers, highlight the critical importance of robust physical security in parallel with cyber security.

NineID: Championing Integrated Corporate Security

Belgian start-up NineID, after a successful initial round of funding in 2022 and an award-winning product launch, announces another milestone in its growth journey. The access management innovator has secured $1.2 million, successfully closing its $2.6 million seed round. This funding influx, led by Pitchdrive, Comate Ventures, and a group of angel investors including the founders of Showpad, is set to fuel NineID’s internationalization and product expansion.

With an established client base that includes prestigious organizations such as World Forum The Hague, PSA (world’s largest port group), A.S. Watson (world’s largest international health & beauty retailer), and Alpro (part of Danone Group), NineID has demonstrated its ability to provide modern and secure access control solutions. Traditional technologies fall short, offering limited security and user-unfriendly manual onboardings and check-ins that often lead to administrative confusion.

Redefining Access Management

NineID’s solution is a unique blend of software and hardware. The company offers a SaaS platform that centralizes user identification, certificates, and training documentation, making it readily available for audits. Additionally, NineID provides on-site access management hardware utilizing QR codes, smartphone scans, or facial recognition.

The founders, Roy Jeunen and Frederik Keysers, developed this revolutionary solution drawn from their personal experiences with cumbersome security procedures. Jeunen comments, “In previous roles we underwent long queues and countless security checks prior to getting site access via (RFID) badges. Anyone can pass on this badge, making the whole process useless.”

Highlighting the importance of physical security, Jeunen adds, “Companies often lose sight of physical identity and access management when focusing entirely on cyber security.” He emphasizes how physical badges are often prone to sharing, copying, or theft, thereby allowing unauthorized individuals access to secure premises.

Expanding Security Horizons

The importance of physical security is further underlined by NineID’s infiltration experiment, whereby they accessed all sensitive information of an unknowing company within just 15 minutes. Co-founder Frederik Keysers notes, “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.”

With its recent funding, NineID plans to expand its footprint globally and further refine its security solution. The company’s mission to build a secure bridge between the digital and physical worlds of corporate security is well underway and continues to garner interest from leading investors and corporations.

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