Oloid, a Sunnyvale, Calif.-based creator of the world’s first software-based physical access technology, announced the close of its $12 million Series A funding.
The round was led by Dell Technologies Capital, with participation from Honeywell Ventures, Okta Ventures, and other previous investors.
The funding, which brings Oloid’s total raised since inception to $17 million, will be used to help expand Oloid’s retrofit access control products portfolio and build nationwide sales and marketing operations.
Company: Oloid AI
Round: Series A
Funding Month: February 2022
Lead Investors: Dell Technologies Capital
Additional Investors: Honeywell Ventures and Okta Ventures
Company Website: https://www.oloid.ai/
Software Category: AI-powered Secure Authentication and Integrations
About the Company: Oloid is a physical identity software provider committed to providing secure and privacy-forward authentication for the modern workplace. Oloid's vision is to replace antiquated technologies such as pin-pads, badges, and fingerprint readers, with frictionless identity-based single sign-on for all physical access and authentication needs in a workplace. Oloid offers Industry’s first multi-modal authentication software reader for enabling mobile and facial access for employees, contractors, and visitors while coexisting with the existing locks, badge readers, and access control systems. Oloid enables frictionless and secure physical identity for the workplace by integrating with existing physical access systems and enables intelligent mobile access or contactless biometrics with minimal hardware cost, via its software and mobile app. The company is currently running a Beta program of its self-install product wherein the retrofit upgrades are being offered at no cost.