Proxy Acquires Ring Maker Motiv

By Brian Rhodes, Published Apr 29, 2020, 12:13pm EDT

Fresh off of raising $42 million, access startup Proxy has acquired Motiv.

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Motiv, itself, had raised tens of millions of dollars to develop a wearable ring over the past 7 years.

But why would Proxy acquire Motiv now and what do they intend to do with the company's historically fitness tracking orientation? We spoke with Proxy's CEO and in this note, examine the background, potential fit, and outlook of the combined companies.

Motiv ********

******* ** ****, ***** was ** ***** ******* into *** ****** ********** wearable ******, ********* ********* biometrics **** ******* '******' **** ************* **** users **** ** * finger.

***** ********* **** ~$** million *********** ** ***** *** fitness ******** ******* ** market, * **** ************* as ********** ** ****** searches:

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*******, *** ******* ********** did *** ******* *** early ********* ** ****** success ********** ** *********** offerings **** ********.

Fitness ******* ***********

** ***** ** ******* trackers, ***** *******/***** ********** functions *** **** ****** than********** ****'* ****** *****-**** ******* **** GPS-tracking ****** *****.

Motiv **** ********* **********

*** ******* ************ ****** Motiv **** ** ****** users ** ********* **********, which ********** ** ********* (e.g.: ***** ****) ** used ** ******** ******** wearers.

** *** **** ** worn ** ******* ****** other **** *** *****-************* individual, *** **** **** not ***** *** ******'* heartbeat ** *********** ** the ****'* *****, *********** disabling **.

Acquisition ***** / ***** *******

***** *** ********* ***** not ******** *** ***** paid *** *****'* *******, we ******* **** **** were ***, ***** *** company *** ****** **** ~40 ** ~** ********* and ******* *** **** anywhere ***** ** *** company's **-****** *********.

*** *****, **** ***** they *** * **** at ****** ***** **** for ****** ******* ******* having ** ***** **** money. ** ** *****, it *** ****** *** if ** *****, ***** is ** *********** **** or **** **** ***** recent ***********. ** *** be ***** **** * strategy ********** **** **** marks *****'* ***** *********** in ***** ** *********.

Proxy *********** ** ****

***** **** ** **** moving **** ********* *** an ********* ** *** company ***** ********,****** *****'* ********* **** ****** ***** provides ** *********** ** quickly *** ******** **** to *****'* ********.

** ***** ** *** fit, *****'* *** ********:

****** *******, *** ***** rings **** ** **** advanced **** * ********* identity *********** *** ******* many *** ************.

********* ** **** ** targeting ************* *** *********** identity ******** ****** ** critical ******** ******* *** major ***** *****, *****, insurance *********, *** **** extend ** ********** ******* ID *****, ******** ******, car ****, ***** ****, lockers, ******* *****-***, ***, ticketing, ******** *** ****.

** ******* *** ****** of ** ** * Proxy ******** ***** **** that ** *********** ****** to *** ***** *** can ************ **** ** any ******** ** ******* object ** * ****** and ******* ********** ***.

Outlook *** ****

*** ****** *** *****'* ring *********** ** ***** on *** *******'* *** to ******* **** **** just *****, ********* ************ like ******** *** ****** customizations ***** ** **********.

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

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

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

********* ** *** ***** grows *** ******** *** adds *** ************* ********* like ******** *** ***** 'non-door' ************ ********* ******** verification, *** **** ***** be ****** *** *******.

***** ************ **** ***** enabled ************ (*.*. *** keys, ******* *****-***) *** in *** ******* ********** stages.

Next ***** - ***** ****

***** **** ** ********* its ****** ***** ** Proxy ** *****. *** company ***** ** **** will *** ** ******** any **** ******** ***** smart *****.

****-***********, ***** **** ******* existing ***** ** ******* the ******* ******** *******, but **** *** ********* them *** *** ***** in *** ***** ***.

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