Rising Star Keyless

Keyless is a London-headquartered multi-factor authentication (MFA) vendor founded in 2019 and currently at Series A stage, offering subscription-based, globally focused authentication technology. The company positions itself as a privacy-preserving biometric authentication innovator through “zero-knowledge biometrics,” enabling facial authentication on any device with a front-facing camera, including smartphones and desktops. Its solution targets high-compliance use cases such as account recovery, step-up authentication, and transaction signing aligned with PSD2 requirements, with a particular focus on regulated industries like financial services, fintech, gaming, and government.

The market context driving this approach is the simultaneous rise in breach frequency/severity and user frustration with legacy methods such as passwords, PINs, SMS OTPs, and call centers. Organizations are responding by either extending identity verification (IDV) systems into authentication or adopting authentication-only vendors, with rapid evolution toward methods like FIDO2 and passkeys that aim to improve security without degrading usability.

Keyless differentiates by not storing biometric data anywhere (neither device nor cloud) while still providing identity assurance that links authentication to the identity established at enrollment. Enrollment can be performed at scale without explicit sign-up by leveraging existing KYC images via an “IDV Bridge” approach. The technical foundation draws on over a decade of academic research using secure multi-party computation and zero-knowledge techniques so encrypted biometric transformations can be processed without exposing PII, combined with cryptographic device verification for “two-factor with a single look.” Strengths include sub-300ms authentication, multiple certifications, and patent coverage, while key challenges involve broad platform compatibility, operational scaling, and strengthening go-to-market execution.

• Keyless was founded in 2019.
• Headquarters are located in London, UK.
• The company has offices in Rome, Singapore, and the United States.
• Keyless operates in the multi-factor authentication market segment.
• The licensing model is subscription-based with a global geographic focus.
• The technology authenticates users via facial biometrics on devices with a front-facing camera, including smartphones and desktops.
• The solution supports account recovery, step-up authentication, and transaction signing for PSD2 compliance.
• The system does not store biometric data on the device or in the cloud.
• Authentication completes in under 300 milliseconds.
• The company reports that engineering and R&D comprise over 60% of its team.

• “As data breaches increase in both frequency and severity, public and private organizations must focus on strengthening authentication processes to counter evolving threats.”
• “Improving the authentication experience has become critical, as people are increasingly frustrated with traditional methods like passwords, PINs, SMS OTPs, or the call center.”
• “Modern multi-factor authentication solutions are increasingly required to strike this balance between security and usability.”
• “Keyless has quickly positioned itself as a privacy-preserving biometric authentication innovator with its proprietary ‘zero-knowledge biometrics’ technology.”
• “It onboards users in bulk without requiring sign-up by leveraging existing images from KYC checks, enabling continuous identity assurance and a friendly user experience.”
• “Unlike traditional biometric authentication solutions, Keyless’ privacy-preserving technology means it does not store biometric data anywhere, either on the device or the cloud.”
• “The foundation of Keyless is based on more than a decade of academic research in technologies such as multi-party computation, zero-knowledge proofs, and advanced biometrics.”
• “Combined with cryptographic device verification, the system provides seamless two-factor authentication with a single look, ensuring no PII leaves the device or is accessible, even to Keyless.”
• “With a heavy focus on R&D, strengthening go-to-market strategies will be required to accelerate adoption and revenue growth.”
• “Any organization looking to upgrade authentication capabilities, leverage advanced cryptography for privacy, and go passwordless should take a closer look at Keyless.”