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September 28, 2022
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Alcatraz AI, a Bulgarian security solution that provides physical access control using facial recognition and AI, targets 1M euro round on SeedBlink

The company has just raised $25M in Series A funding to accelerate international growth

Alcatraz AI, a Bulgarian startup which developed a security solution that provides physical access control using industry-leading 3D facial authentication and AI, targets a 1M euro round on SeedBlink, the investment platform for European startups. The opportunity started this week, the investment tickets beginning from 2,500 euros or even 1,000 euros for those with Club subscription.

The company will focus on global expansion and product innovation as organizations continue to modernize their access control systems.

Alcatraz Ai announced this week that it raised a $25M Series A round. The round targeted on SeedBlink is part of this Series A founding. The round was led by Almaz Capital, a venture capital fund headquartered in Silicon Valley with offices in Berlin. Almaz Capital focuses on disruptive deep-tech companies in the B2B software space.

The round included EBRD (The European Bank for Reconstruction and Development), Endeavor Catalyst, Silverline Capital, and Golden Seeds, along with participation from existing investors JCI Ventures (the corporate venture arm of Johnson Controls), Ray Stata, and LDV Partners.

Since its founding in 2016, Alcatraz AI set out to transform the experience of entering spaces in the most highly secure manner, while enabling a passive and frictionless use case at doors for occupants and the security teams that manage them.

Alcatraz AI’s flagship product, the Rock, is deployed at some of the most successful enterprises in the world, including 25 of the Fortune 500. Since 2020, the company has seen massive growth in the US and globally, with over ten countries deploying Alcatraz solutions, securing over 1 million employees.

The $70B physical access control market needs next-generation solutions that enable more modern and secure ways of unlocking where people work, live, study and play. Today, the most commonly used credential to enter secured spaces is an access card that can be lost, replicated, or stolen. Due to implementation and user challenges, alternative technologies, such as mobile and legacy biometric systems, have not gained mainstream momentum.

“We believe that safety and security is the first principle, and we are committed to lead a new era of frictionless access control by leveraging the unique power of the human face to make accessing spaces as secure, quick and easy as unlocking your phone. We are excited to enter the next phase of our company’s growth by partnering with our investors with a strong track record scaling companies globally that deliver next generation technology”, said Vince Gaydarzhiev, founder and president of Alcatraz AI.

“Vince – the founder of Alcatraz- is a true visionary and, together with his team, has managed to develop, launch and execute a company that will redefine physical security for everyone. The world’s most innovative technology companies have implemented Alcatraz AI’s solution in their buildings, which speaks volumes. The round launched today on SeedBlink is the last (and only) opportunity for private investors to participate in the Series A of this outstanding Bulgarian startup, together with institutional investors and on the same terms”, said Laurentiu Ghenciu (photo), Chief Business Officer at SeedBlink.

 

 

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