Due to the complexity of existing identity and authentication solutions, which cannot interact with each other and have different requirements, an internationally applicable authentication service could not yet be established in 2017 at the time of foundation. Adaptations to industry differences, divergent legal requirements, and divergent standards were not possible.
That's why Steffi Feldmann, venture principal at Bitrock, built the cybersecurity startup Keyp. With Keyp, companies that were primarily in highly regulated industries were able to create custom authentication and identification solutions and workflows of their customers or users. The configuration was done through the Keyp Terminal, a no-code platform. Through the platform, ID workflows could be customized in real time to respond to security breaches, regulatory changes or compliance requirements at any time. Once verified, user data could be stored by individuals in encrypted form on their smartphones, allowing them to be taken to other connected companies without the need for re-verification. Partners included IDNow, WebID, BioID, Signicat, kompany, Tyntec, Moneyhouse, VocalZoom and identity.tm. In 2020, the start-up was sold to an Austrian company.
4 Lead customers already acquired during development
25+ employees as part of the operational team
EUR 12.5 million valuation (post-money)
Establishment of a no-code platform for the configuration of individual ID workflows
Launch of a wallet app for users to reuse their verified data