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Proxy
Decentralized Identity service
- 21-100 employees
- B2B
- Security
- Internet of Things
- Privacy
- SaaS
- Blockchain
- Identity
- Web 3.0
- China Basin, San Francisco, CA
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Company mission
To bring the promise of web3, decentralization, and self-sovereign identity to everyone.
-29% employee growth in 12 months
Our take
In its first iteration, Proxy developed ways for its customers to access buildings and other restricted areas hands-free, using bluetooth signals and identity verification. It was making good headway, too: spurred on by the touch-free imperative of the pandemic, Proxy attracted strong funding and over 60 customers. Now, however, it’s winding down this side of business: Proxy has set its sights on Web3.
The plan is to build out an identity wallet, both on mobile and in wearable form, that facilitates faster and easier access to blockchain-based platforms and products. This is a neat premise, because currently there’s a complexity barrier for many Web3 services that’s hobbling their transition to the mainstream. Plus, many are touting decentralized, self-sovereign identity solutions as a key component for Web3. The company that can crack this nut is likely to win big.
This also means that Proxy isn’t the only player on the market - but until more details about the wallet are released, it’s unclear how it’ll compare to competitors. Naming solutions to the identity issue are being developed, with remarkable success, by companies like Unstoppable Domains, Bonafida, and Tezos.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Work from home
Funding (last 2 of 4 rounds)
Mar 2020
$42m
SERIES B
Mar 2019
$13.6m
SERIES A
Total funding: $58.8m
This company has top investors
Leadership
Denis Mars
(CEO)Former Director of Admissions at Y Combinator and founder of several startups, including Bitplay, Meetings.io and Modena.
Simon Ratner
(CTO)Former co-founder of Inporia and Omnisio which as acquired by Google.