Company increased revenues by 3X, introduced category-defining new products, and received major purchase agreement from Login.gov
ISELIN, N.J.--(BUSINESS WIRE)--#Blockchain--1Kosmos, the leader in unifying identity proofing and passwordless authentication, today announced record-breaking results for 2024, including a threefold increase in revenues, a doubling of its customer base, and the award of a next-generation identity proofing Blanket Purchase Agreement (BPA) from Login.gov valued at up to $194.5 million.
The company also unveiled groundbreaking product innovations that redefine the standards for identity verification and passwordless multi-factor authentication (MFA). Throughout the year, 1Kosmos earned prestigious recognition for its technological excellence and market leadership from top industry analysts.
“2024 was a transformative year for 1Kosmos,” said Hemen Vimadalal, CEO of 1Kosmos. “We achieved remarkable growth, secured a major blanket purchase agreement with Login.gov, and launched groundbreaking new products for credential service providers and cross platform identity verification that were validated by top industry analysts. With this momentum, we’re positioned for exceptional growth in 2025.”
As 1Kosmos continues to innovate and expand its footprint in the identity proofing and passwordless authentication market, the company is set to lead the industry into a new era of secure and seamless digital identity solutions.
According to Guy Brosseau, Executive Vice President, Information Systems and Global Security for Concentrix, a global technology and services leader: “1Kosmos solutions have enabled us to transform our endpoint security practices and user experiences.”
2024 Business Highlights:
- Increased revenues by 3X
- Grew customer base by 2X
- 1Kosmos Partnership with Carahsoft was awarded Login.gov Next Generation Identity Proofing Blanket Purchase Agreement (BPA) Worth up to $194.5M
- Launched 1Kosmos 1Key, a biometric security key providing phishing-resistant passwordless MFA in environments where mobile devices are restricted.
- Expanded into the public sector with a new Credential Service Provider (CSP) managed service, enabling government agencies to digitally verify resident identities and issue strong, phishing-resistant MFA credentials.
- Named an Overall Leader by KuppingerCole in the Leadership Compass Report for Passwordless Authentication for Consumers.
- Recognized as a Sample Vendor in five 2024 Gartner® Hype Cycle™ reports.
- Enhanced the 1Kosmos platform to unify identity verification user journeys across web and mobile platforms, allowing organizations to extend web-based identity proofing sessions to users' mobile devices without requiring a dedicated app.
- Appointed Christine Owen as Field Chief Technology Officer, bringing over a decade of experience in federal government identity and access management and zero trust consulting.
About 1Kosmos platform
The 1Kosmos platform verifies user identity for straight-through onboarding of customers, workers and citizens. It creates a reusable identity wallet for high-assurance authentication into digital services and instant validation of end-user qualifications, competencies, authority, and more. A unique privacy-by-design architecture centered around a private and permissioned blockchain eliminates centralized honeypots of end user personal identifiable information (PII), simplifying compliance to privacy mandates such as GDPR and providing organizations tamper evident verification to always know the identity behind devices accessing applications, data and services. 1Kosmos has attained certification to NIST 800-63-3 and UK DIATF via Kantara, FIDO2, and both DEA EPCS and ISO/IEC 30107-3 Presentation Attack Detection via iBeta. It is easily embedded into mobile apps via an SDK, delivered as a cloud service, and available as a Credential Service Provider managed service.
About 1Kosmos
1Kosmos enables remote identity verification and passwordless multi-factor authentication for workers, customers and residents to securely transact with digital services. By unifying identity proofing, credential verification and strong authentication, the 1Kosmos platform prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences and preserving the privacy of users’ personal information. 1Kosmos performs millions of authentications daily for government agencies and some of the largest banks, telecommunications, higher education and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in Iselin, New Jersey. For more information, visit www.1kosmos.com and follow us on X and LinkedIn.
Contacts
Media Contact:
Marc Gendron
Marc Gendron PR for 1Kosmos
617.877.7480
marc@mgpr.net