Proxy Raises $42 Million
Startup Proxy has raised $42 million, an astounding amount for the access control market.
For background, see our Proxy access control test.
How did they get much funding? What do they aim to do with it and to the market? We spoke with Proxy executives and examine these questions inside.
What **** **** ** **
*** **** ** *** ***** *** Proxy, **** ** ****** *** **********, the ******* ****. ***** ****** ******* for ***** ** ***********, ***** ********* offering ** ******** ******** ** * broad ***** ** ******* ******* **** printers ** ** ** ******* *****, tablets, ** ********* **** **** ****** and **** *******.
******, **** ******* ** *** **** term **** ***** **** ** * distinct ******** ** ******* **** **** control ****** **.
Business *****
***** *** ******* ***** ********, *.*.,****** ******* ****** **** ****, *** ******* ******** ***** ** focused ** ********, ************, * **** model ***** ** ********* *** ****** (e.g., *** ****, ******* ******* ~$** to $** *** ****** *** ***** depending ** ****** **** *** ***** of ***********), ******* ** ********* *** credential (******* ******** ** *******).
*** ******* ******** **** ** *** scale ** * ***** ***** ** devices *******, ********** ******* *** ********.
Top-Down ***** *****
****** **** ******** ******** ********* **** start **** ******* *******, ***** **** they **** ******* ** *********** *** commercial **** ****** *********, ********* ******* Silicon ******-***** ******.
******, **** *** **** ***** ******* interest ***** ****** ********* *** ***** combination ** ****** ****** *** * singular ********** ** ****** ** ******* devices.
Competitors - ***, *** *****, **, *******, ***.
*** ******** ********** ** ****** *** Global. ***** ***** **** **** **** made ********* ** *** ** *******, it ** ****** ***** *** ******* incumbents *** *****'* *** ********* **** these *** **** *****.
*******, ** *** ****** ******* ********** software ****, ***** ***** ** ******* with *********** ****** *******.
***** ***** ****** *** *** ***** management ********, ** **** *** ****** to ** * ****-******* ****** ******* management ******** *** ******* *** * mobile ************** ***** ** ******** *******.
Negatives / ***********
* *** ******* ********* ** *********** do ***** *** *** ******* *****:
- ****** *****, *** ******* *** ~** employees.
- ** **** ***** ************ ** ***** sales ** ** ***** ******* ********.
- ******* ***** *********** *** ******** ****** control
- ************** *** ***** ***** *** ****** channel
Can ***** ********* '************ ******' ********?
***** **** *****'* ******** **** **** customers ** *** ******** ****** *******, the ******** ** ******* ** *** this ******** * ********** ******** **** the '***** ******* *******' ************ *** company **** ** **** ** ********* systems.
******** *********** *** *********** ** *** often **** * '**** ** *** table' ** ***** ** ********* ** specifying ***** **-***** ******* *******, *** while *** ******** ** ****** '************ access' ** ***** ********* *** ** there, ******* ***** ***** ***** *** a ******** ** *** ***** ***** prove *********.
Using $** *******
** *******, ***** ** ****** ** use *** $** ******* ** ******** investments ** *&* ** **** ** sales, ****** *** ******* ********* **** caution ** *** ******* ** ****** they **** ***** / *****, ****** the ******* ********* ******** *********.
*** ******** ** **** *** $** million ***** **** ***** * *** chest ** ****** ******* ********* ** well ** ***** * ***** ************ to ** ***** *** ******* ******.
Competitive *******
*** ** ******* *** ******* ************ and *** **** ******* ******** ** enter *** ******** '********' ******, **** as ***** ** *********** ******.
** *** ******* ****,***'* **** *************** ** ****** *** ******** ******** credential *** **** ** *** ****** of * ******** ****** **** ********** users **** ******* (*********) ******* ** well. ***** ******* ********, **** ******* *** *** **************** ****** ****** ******** ********, **** none ***** ************* ******* ** ***.
*** *** ********* ** ****** ******* markets **** ***** ** *********** ******, but *** ********** ** ***** *** proven *********, ********** ******* *** ************* of *********** ******** *********** **** ***** systems.
*******, **** *****'* ******-***** ********, **** of *** ********** *** ****** ************ are ********* *** ********** ***** *********** and ****** ******* *** *********. *** less ******* *********** ******** ***** ***** valuable ** ******* ***** **** ****** where *** *** *** ****, *** is ***, ********* *** ****** ******.
***********, *** ** ***** *** ******* and **** ** *** ****** ******* industry's ******* ******* *******, **** *****, so **** ********* **** *** ********* and **** ** **** ** **** future ***** ******.
Vote / ****
*** *** *** **********, *** *****? Don't *** ** **** ** ** their *******.
***** ****:
*****'* **-******** ******** ************ ******, **** ******** ***** **** *******/ tech ******* **********. ****** *** * former ****** ******** ** *****/******* ******** involved **** ******* ********, **** ******** worked *** *-**********, *** ****** **** Google/Youtube.
**** *** ******* ******** ******** ********** prior ** ******** *****.
**** **** ****?
** ***** *** *** *******, *** in * ****** ******* ********, **** emphasized ***** *******'* *********** ** *** identity ********, *** **** ****** ***********, similar ** *** ******** **** ***** is ****** ** ******.
*** ******* ** ******* ** ****** ******* ************ *** **, ***** *** ****** student *** *** ****/***** ** * number ** *******:
***** ***** *** ****** ******* *** be **** *** ********** **** ******** buildings – **** ** ********* ***** and ********** ***** – ** ****** meals, ********* *** ***, *** ***** secure ***** ******** *** ******** ***** university *********.
*******'* ************* ** *** ****, *** ******* offers ** ********* ** *** **** access *********** **** * ****** ** areas.
** ****, *****'* **** ** *** new, *** *** ******** ** ******* the ******* ** **** ******/ **** cost-effective/ **** ******* ** ********** ***** integrations.
** ***** *** *** ******* ** the ************/*********** ******* ***** ********** ********* vs. *** ******* ****** *****'* ***** to ****** ***** ******** ****** ****** doors.
*** ********* ***** ********:
*** **** ******* **** ****** *** reader ************** ********** **** ***** ************* non-PACS ******** *** ********* **** ***** upon *** ***** **** ********* **** worldwide. **** ******* *** *** ** HID’s ******* *********** **** * **** range ** ************. ** *** ********** space, *** *******, *** ******** **** many ** *** *****’* *** ****** print **** **** ****** ******* *** others, ** **** ** ******** ******* partners, ********* ******** ******** (**** ** Suprema, ********* *** **** **), ******** devices ******** **** ******** ***********, ***** peripheral ****** ******** *** **** ****.
** ******** ** ***** ******* ************, HID ********** ** ********** **** * wide ***** ** ******** ******* ** provide ****** ****** ** *******, *****, medical *******, **** ********** ********, **** and ********** *********, *********, *** ** much ****.
*** ******** *** ***** ******** ** their '******** ********' *********** ****** **** and ****** *********** **** ***-****** *********, which ** ******* ** *** ***** is ******** ** ****** ***** ********.
** ***** **** ********* ** ******* the ******* ******** ** *********** ***** the ********* **********.
*** ***** **** ******* ********** ******* use **** *********** **** ****** ****:
'**** ******* **** *** ****** **** and ************* **********, ********* ** ******** authenticate * ****** ********** ** ***** card, *** ******** ** ******* ********* containing ********* ******** ****** ********.'
***** **** ******* **** ****** **** are ******** ** ***** ***-****** *******, there ** ******* **** ********** **** credentials *** *** ******* ** *******.
** **** ***** ***** ** ******* their ******** ** ******** ***** ***-***** credentials, ************ ** ********** ** ****. Proxy *********:
***** ****** *** ** ** ********* communication ****** (******* ** ****). ****** our ******, ****** *********** *** ****** in *** ***** (********* ** ****) and ********* ** *** ***** ** the ******* ** ** ********* *****. The ****** *****-********, ****-******* ********* ***** is **** ****** **** ** *** reader *** ***, ***** *** ***** is ********* **** * ******-******** ********** key, *** *** ********** ** ******* and ****** **** *** **** *** Wiegand ** **** ** ** *** controller. **** ***** ** *** **** use **** ** ******* ****** *** system ******* ****-***-****** *******. ***** ** SOC-2 *********.
** **** ****, ***'* ******** *** a **** ***** ** *** ******** Proxy ***** ** *****. *** *******, the *******'* ************ ******* ************ *** **, ***** ******* *** are ****/***** ** * ****** ** systems:
***** ***** *** ****** ******* *** be **** *** ********** **** ******** buildings – **** ** ********* ***** and ********** ***** – ** ****** meals, ********* *** ***, *** ***** secure ***** ******** *** ******** ***** university *********.
*****'* **** ** *** ***, *** market ******* *** ****** ** *** company ** **** ******/ **** ****-********* than *** ** ********* ***** ************.
*****, *****, ***** .... *** .. anyone **** ******** ***** *****?
** **** ** ***** ** ******** doors ******** *** **'** *** *********** access ** ****** *** ** ********* pressure **** (******'* ** ********* ** Elon **** ******* *** **** *** figured ***) ***** **** ** *********** challenges ** ****** *** ********* ***** with *** ***** *** **** ** control ****** ** **********, ** ****** what ** **, **** * ********* identifier.
***** ***** ** *** *******, ** maybe *** * ****** ** **** and ******* **** ** *** ****, but *** **** ********* *** *** newer ******** ** ******** ****** ******* are *** ***** **** ****** ********* with ********** *** **** **** ****** about **** ******** ** ****, *** focus ** *** *** ******** (***) bright ******.
*****, ** ******* ****, *** *** hackers *** **** ******* ****** ** their *****, *** *** ****** *** higher *** **** **** ******* **** we *** *****, ** ********* **** one ********, **** "*****", ** * complex *** ** ********** ************ ****** the **** *** ** **.