Proxy Raises $42 Million

By: John Honovich and Brian Rhodes, Published on Mar 17, 2020

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.

********************* $** *******, ** ********** ****** for *** ****** ******* market.

*** **********, *** ******** ****** ******* ****.

*** *** **** *** much *******? **** ** they *** ** ** with ** *** ** the ******? ** ***** with ***** ********** *** examine ***** ********* ******.

[***************]

What **** **** ** **

*** **** ** *** start *** *****, **** to ****** *** **********, the ******* ****. ***** access ******* *** ***** is ***********, ***** ********* offering ** ******** ******** to * ***** ***** of ******* ******* **** printers ** ** ** meeting *****, *******, ** amenities **** **** ****** and **** *******.

******, **** ******* ** the **** **** **** doors **** ** * distinct ******** ** ******* that **** ******* ****** to.

Business *****

***** *** ******* ***** hardware, *.*.,****** ******* ****** **** ****, *** ******* ******** model ** ******* ** software, ************, * **** model ***** ** ********* per ****** (*.*., *** door, ******* ******* ~$** to $** *** ****** per ***** ********* ** system **** *** ***** of ***********), ******* ** licensing *** ********** (******* physical ** *******).

*** ******* ******** **** it *** ***** ** a ***** ***** ** devices *******, ********** ******* per ********.

Top-Down ***** *****

****** **** ******** ******** companies **** ***** **** smaller *******, ***** **** they **** ******* ** enterprises *** ********** **** estate *********, ********* ******* Silicon ******-***** ******.

******, **** *** **** found ******* ******** ***** larger ********* *** ***** combination ** ****** ****** and * ******** ********** of ****** ** ******* devices.

Competitors - ***, *** *****, **, *******, ***.

*** ******** ********** ** likely *** ******. ***** Proxy **** **** **** made ********* ** *** to *******, ** ** likely ***** *** ******* incumbents *** *****'* *** ambitions **** ***** *** will *****.

*******, ** *** ****** control ********** ******** ****, Proxy ***** ** ******* with *********** ****** *******.

***** ***** ****** *** own ***** ********** ********, it **** *** ****** to ** * ****-******* access ******* ********** ******** and ******* *** * mobile ************** ***** ** existing *******.

Negatives / ***********

* *** ******* ********* or *********** ** ***** for *** ******* *****:

****** *****, *** ******* has ~** *********.
** **** ***** ************ or ***** ***** ** go ***** ******* ********.
******* ***** *********** *** physical ****** *******
************** *** ***** ***** and ****** *******

Can ***** ********* '************ ******' ********?

***** **** *****'* ******** into **** ********* ** via ******** ****** *******, the ******** ** ******* or *** **** ******** a ********** ******** **** the '***** ******* *******' applications *** ******* **** as **** ** ********* systems.

******** *********** *** *********** do *** ***** **** a '**** ** *** table' ** ***** ** selecting ** ********** ***** IT-group ******* *******, *** while *** ******** ** adding '************ ******' ** those ********* *** ** there, ******* ***** ***** heard *** * ******** on *** ***** ***** prove *********.

Using $** *******

** *******, ***** ** aiming ** *** *** $42 ******* ** ******** investments ** *&* ** well ** *****, ****** the ******* ********* **** caution ** *** ******* or ****** **** **** spend / *****, ****** the ******* ********* ******** currently.

*** ******** ** **** the $** ******* ***** them ***** * *** chest ** ****** ******* offerings ** **** ** build * ***** ************ to ** ***** *** broader ******.

Competitive *******

*** ** ******* *** gorilla ************ *** *** made ******* ******** ** enter *** ******** '********' market, **** ** ***** is *********** ******.

** *** ******* ****,***'* **** *************** ** ****** *** physical ******** ********** *** make ** *** ****** of * ******** ****** that ********** ***** **** logical (*********) ******* ** well. ***** ******* ********, like ******* *** *** **************** ****** ****** ******** attempts, **** **** ***** significantly ******* ** ***.

*** *** ********* ** breach ******* ******* **** Proxy ** *********** ******, but *** ********** ** sales *** ****** *********, especially ******* *** ************* of *********** ******** *********** into ***** *******.

*******, **** *****'* ******-***** approach, **** ** *** cumbersome *** ****** ************ are ********* *** ********** using *********** *** ****** adopted *** *********. *** less ******* *********** ******** could ***** ******** ** getting ***** **** ****** where *** *** *** been, *** ** ***, currently *** ****** ******.

***********, *** ** ***** the ******* *** **** of *** ****** ******* industry's ******* ******* *******, Assa *****, ** **** certainly **** *** ********* and **** ** **** on **** ****** ***** market.

Vote / ****

Comments (4)

Undisclosed Integrator #1

03/17/20 11:34pm

*****, *****, ***** .... lol .. ****** **** anything ***** *****?

** **** ** ***** is ******** ***** ******** and **'** *** *********** access ** ****** *** an ********* ******** **** (wouldn't ** ********* ** Elon **** ******* *** this *** ******* ***) there **** ** *********** challenges ** ****** *** locksmith ***** **** *** folks *** **** ** control ****** ** **********, no ****** **** ** is, **** * ********* identifier.

***** ***** ** *** surface, ** ***** *** a ****** ** **** and ******* **** ** the ****, *** *** best ********* *** *** newer ******** ** ******** access ******* *** *** large **** ****** ********* with ********** *** **** very ****** ***** **** hardware ** ****, *** focus ** *** *** solution (***) ****** ******.

*****, ** ******* ****, but *** ******* *** only ******* ****** ** their *****, *** *** stakes *** ****** *** much **** ******* **** we *** *****, ** attaching **** *** ********, your "*****", ** * complex *** ** ********** applications ****** *** **** out ** **.

Kurt Kottkamp

03/19/20 12:40pm

*** *** *** **********, and *****? ***'* *** it **** ** ** their *******.

Brian Rhodes

IPVMU Certified | In reply to Kurt Kottkamp | 03/19/20 03:28pm

***** ****:

*****'* **-******** ******** ************ ******, **** ******** ***** with *******/ **** ******* experience. ****** *** * former ****** ******** ** Intel/Sensory ******** ******** **** network ********, **** ******** worked *** *-**********, *** Ratner **** ******/*******.

**** *** ******* ******** security ********** ***** ** starting *****.

**** **** ****?

Brian Rhodes

IPVMU Certified | 04/02/20 05:27am

** ***** *** *** comment ** *** ************/*********** between ***** ********** ********* vs. *** ******* ****** Proxy's ***** ** ****** their ******** ****** ****** doors.

*** ********* ***** ********:

*** **** ******* **** embeds *** ****** ************** technology **** ***** ************* non-PACS ******** *** ********* that ***** **** *** broad **** ********* **** worldwide. **** ******* *** use ** ***’* ******* credentials **** * **** range ** ************. ** the ********** *****, *** example, *** ******** **** many ** *** *****’* top ****** ***** **** like ****** ******* *** others, ** **** ** cashless ******* ********, ********* terminal ******** (**** ** Suprema, ********* *** **** ID), ******** ******* ******** like ******** ***********, ***** peripheral ****** ******** *** many ****.
** ******** ** ***** partner ************, *** ********** is ********** **** * wide ***** ** ******** systems ** ******* ****** access ** *******, *****, medical *******, **** ********** cabinets, **** *** ********** terminals, *********, *** ** much ****.

*** ******** *** ***** examples ** ***** '******** business' *********** ****** **** and ****** *********** **** non-access *********, ***** ** similar ** *** ***** is ******** ** ****** their ********.

** ***** **** ********* to ******* *** ******* security ** *********** ***** the ********* **********.

*** ***** **** ******* integrated ******* *** **** credentials **** ****** ****:

'**** ******* **** *** master **** *** ************* operations, ********* ** ******** authenticate * ****** ********** or ***** ****, *** isolated ** ******* ********* containing ********* ******** ****** elements.'

***** **** ******* **** iClass **** *** ******** to ***** ***-****** *******, there ** ******* **** confidence **** *********** *** not ******* ** *******.

** **** ***** ***** to ******* ***** ******** to ******** ***** ***-***** credentials, ************ ** ********** is ****. ***** *********:

***** ****** *** ** an ********* ************* ****** (similar ** ****). ****** our ******, ****** *********** are ****** ** *** cloud (********* ** ****) and ********* ** *** phone ** *** ******* of ** ********* *****. The ****** *****-********, ****-******* encrypted ***** ** **** passed **** ** *** reader *** ***, ***** the ***** ** ********* with * ******-******** ********** key, *** *** ********** is ******* *** ****** down *** **** *** Wiegand ** **** ** to *** **********. **** token ** *** **** use **** ** ******* secure *** ****** ******* read-and-replay *******. ***** ** SOC-2 *********.

** **** ****, ***'* platform *** * **** start ** *** ******** Proxy ***** ** *****. For *******, *** *******'* deployment** ******* ************ *** **, ***** student *** *** ****/***** in * ****** ** systems:

***** ***** *** ****** devices *** ** **** for ********** **** ******** buildings – **** ** residence ***** *** ********** rooms – ** ****** meals, ********* *** ***, and ***** ****** ***** services *** ******** ***** university *********.

*****'* **** ** *** new, *** ****** ******* may ****** ** *** company ** **** ******/ more ****-********* **** *** in ********* ***** ************.

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