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Alcatraz AI aims to transform the experience of entering spaces in the most highly secure manner, while enabling a completely passive and frictionless use case at doors for occupants and the security teams that manage them
Today, the most commonly used credential to enter secured spaces is an access card that can be lost, replicated, or stolen. Alternative technologies, such as mobile and legacy biometric systems have not gained mainstream momentum due to implementation and user challenges.
Bulgaria and US-based company for autonomous access control Alcatraz AI has raised $25 million in funding to further develop 3D facial authentication and AI to create safe spaces. The Series A round was led by Almaz Capital and included The European Bank for Reconstruction and Development (EBRD), Endeavor Catalyst, Silverline Capital, and Golden Seeds, along with participation from existing investors JCI Ventures, Ray Stata, LDV Partners, and Bulgarian angel investors.
Alcatraz AI will focus on global expansion and product innovation to meet a variety of use cases as oganisations continue to modernise their access control systems. The startup has also dedicated €1 million round for retail investors on SeedBlink, the investment platform for European startups, with tickets starting from €2,500.
Founded by Vince Gaydarzhiev in 2016, Alcatraz AI aims to transform the experience of entering spaces in the most highly secure manner, while enabling a completely passive and frictionless use case at doors for occupants and the security teams that manage them. Its flagship product, the Rock, is deployed at some of the most successful enterprises in the world. Since 2020, the company has seen massive growth in the U.S. and globally, with over ten countries deploying Alcatraz AI solutions, securing over 1 million employees.
Tina D’Agostin, CEO of Alcatraz AI said: “Safety and security is the first principle, and we are committed to leading a new era of frictionless access control by leveraging the unique power of the human face to make accessing spaces as secure, quick and easy as unlocking your phone.”
Daniil Stolyarov, partner at Almaz Capital added: “Almaz is always on the lookout for technology applications that disrupt and transform established industries. Alcatraz applies artificial intelligence to ensure that security, privacy, and convenience is possible for autonomous access control.”
Angel Hadjiev, country manager in Bulgaria at SeedBlink added: “The world’s most innovative technology companies have implemented Alcatraz AI’s solution in their buildings, which speaks volumes. The round launched on SeedBlink is perhaps the last opportunity for private investors to participate in the Series A of this outstanding startup with Bulgarian origins, alongside renowned VCs and institutional investors and on the same terms.”
PublishedSeptember 07, 2022
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SeedBlink is a transparent solution that connects entrepreneurs with great business plans, with investors, at different stages in their development. It is a great tool for us, a democratization of access to funding, I would say.
We really loved the SeedBlink journey. We reached our fundraising goal within hours of launching. About 100 investors joined our vision and invested almost $2 million in FLOWX.AI through the Private Deal Room. At the same time, working with SeedBlink to prepare for the funding round was an excellent exercise for our entire team, and we received and felt the support from the SeedBlink team members who took on an advisory role.
SeedBlink made the (investment) process run smoothly. We appreciate all the support SeedBlink's professional team has provided.
Founder and CEO
It's important to look for and choose a platform that you resonate with, that shares your mission with, a platform & its people with which you feel you can have good working relationships. we got an excellent relationship going forward; we talked a lot and we were in touch on a lot of matters and I think this was important. Having people who believe in your idea is of great help.
Founder and CEO
Running the financing round was like any other fundraising; we had to be active in our community as well as in SeedBlink's investor community. After the launch, everything happened very quickly, and SeedBlink organized several pitch events for investors, which we found very useful for the round momentum.
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We immediately clicked with the SeedBlink team as their fundraising expertise was immediately obvious and their no-nonsense approach really appealed to us. After all, fundraising is only a means to an end, and we liked how the SeedBlink team was really focusing on supporting us and on getting things done.
Our main expectation has been to raise the amount we were aiming for, and both rounds launched on Seedblink exceeded our targets, so we’re very happy with that! Even though the launched funding campaigns have been purely crowdfunding rounds, we are thrilled to actually receive extra support from some of the investors, who have chosen to get involved and help us generate product awareness, whenever they can.
I am recommending SeedBlink without hesitation, to every founder that raises capital, especially early-stage tech startups. SeedBlink is a crowd investment platform that will also provide their startup with visibility, for Angels and VCs.
Founder and CEO
In the early stages, we have been funded by several early (angel) investors, and one and a half year ago through an equity crowdfunding campaign on SeedBlink. Of course, this impacted our growth in many positive ways, partly due to the cash influx that, evidently, was sorely needed, but in a larger part due to the fact that our responsibility towards our shareholders has become more stringent and explicit, becoming embodied in our market approach.
Co-founder and CEO
Given the accelerated growth we observed at the end of last year and the beginning of 2021, we want a new capitalization, quickly. This is a bridge round that we will use for one year, and the advantages that SeedBlink offers are the speed at which we were able to list for financing and the experience that we gain as a result of this public listing, similar to a listing on the stock exchange.
Co-Founder & CEO
As a platform that only serves technology ventures, SeedBlink can connect the start-up with more than just money. SeedBlink investors are primarily technocrats who understand the objectives of the fundraising company and are also able to post-funding contribute with business opportunities. The minimum investment threshold, and technology focus, differentiates SeedBlink from other fundraising platforms. A perfect fit for a technology start-up seeking intelligent funding.
Co-Founder & CEO
SeedBlink boosted our brand exposure and facilitated the financial support we were seeking. Having a campaign on the platform allowed us not only to meet a team of professionals - that guided and helped us prepare the necessary materials - but also opened doors for increasing our brand awareness and have discussions with VCs & angel investors we have never reached before. This campaign gave us the encouragement we needed to push the product further, while the record-breaking fundraising (only 2 hours from the launch of the campaign!) was a great confirmation that our product is needed in this market and that we should continue innovating.
CEO & Co-founder
SeedBlink has created a vital ecosystem for startups at the beginning of their journey by equipping entrepreneurs with expertise, encouraging honest and sometimes uncomfortable but necessary discussions about risks and vulnerabilities through a suite of tools, and facilitating connections with investors who share the founders' vision and can contribute to their success. I have greatly appreciated the constant support of Eric and the entire team at all stages of the campaign. Thank you so much!
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