B2B Software & Services - Security & Privacy: Company presentation by Fabian Eberle, Co-Founder of Keylessat the NOAH Conference London 2019, 30-31 October, Old Billingsgate.
3. problem:
authentication and identity management are broken
billions of users have lost their passwords or had their privacy compromised
resulting in billions of dollars lost
Security
Single Point of
Failure
Passwords and personal information
stored by companies are vulnerable
to system wide attacks
Privacy
Personal data
leakage
Personal information associated with
identifying us is misused in ways
weʼre only beginning to fully unravel
Simplicity
Complex Identification
Methods
Methods for identification and
identity management are
extremely complex
5. Change the way we interact with the digital world
“ “
Simplicity
SecurityPrivacy
6. our solution:
Keyless ProtocolKeyless-enabled Apps Keyless Network
a privacy-first biometric authentication and identity mgmt. platform
distributed authentication means availability and privacy at scale
Easy to use (Biometrics) Trustless security (sMPC)Private by design (ZKP)
8. product roadmap:
• Multi-Factor Authentication based on
(a) facial recognition and
(b) verification of the user’s device
• Keyless One-time Codes compatible
with TOTP standard
• Keyless 2FA and SSO
• Seamless authentication experience
• No disclosure of user’s biometric data
• Keyless Wallet SDK for key signing
(a) eSignature
(b) transactions
(c) claims
• Biometrics-enabled, flexible social key
recovery
• User-controlled transactions and claims
• Trustless, intuitive key recovery at scale
• User-controlled credentials and PII
• Personal IDaaS
• Keyless Personal Identity Manager
• Portable KYC tied to UniqueID
Next-gen identityNext-gen paymentsNext-gen authentication
Authentication Key Management Personal IAM
ProductsBenefits
Privacy of authentication Privacy at scale Privacy for everybody
Products 2-FA, MFA, TOTP, SSO e-signature, key management & recovery PIM
9. market size:
Identity and Access
Mgmt. (IAM)
Enterprise Key
Mgmt. (KM)
Multi-factor
Authentication
$ 2B
$ 9B
$ 13B
Personal IAM
Market (by 2020) CAGR
20%
15%
13%
MarketsAndMarkets
Shift to user-controlled IAM
• User identity, data privacy
and consent no longer
separate concepts
• Firewall-centric to user-
centric security models
• Users treated equally in
new ‘Zero Trust’ paradigm
• Convergence of network
security and IAM required
11. Biometric sMPC
Template Sharding + Matching
• Novel password-less system for
convenient recovery
• Hierarchical key assignment schemes
to allow for selective recoverability
• Industry-first biometric authenticated
key exchange
• Novel tech to enable interoperable and
secure Decentralized Identifiers (DIDs)
• Sharded biometric templates are
stored off-chain
• Private sMPC processing allows for
secure authentication by validators
intellectual property:
Dynamic KMS
Biometrics auth key exchange
Social Recovery
Biometrics + Social Multi-Sig
Provisional patent filed
Keyless Whitepaper
Provisional patent filed
BAKE Protocol
Provisional patent filed
Keyless Protocol
12. go-to-market:
• Direct Sales
• Paid PoC; license fee, potential
upfront integration fee
• Subscription service
Mainstream
Slow-moving
Innovators
Fast-moving
Disruptors
Very fast-moving
20202019 2021+
Consumer
Next-gen PaymentsCrypto
Fintech
• Direct Sales
• License fee based on volume
(user base or number of tx)
• Direct Sales
• License fee, potential
upfront integration fee
Govt Physical Legacy
Travel / A&D
1 LOI
3 advanced conversations
10 Letters of Intent (LOI) for integration
Multiple advanced conversations
13. founders:
Andrea Carmignani
CEO
Early adopter of peer-to-peer
networks. Organized music
festivals for 10,000+ people.
Sold and managed $ 150+M
digital transformation projects
in Middle East. Early investor in
crypto projects. INSEAD MBA.
CTO
Paolo Gasti
Served as member of NDN
project to design new network
architecture to replace the
current internet. Expert in
behavioral biometrics, privacy-
preserving biometric auth,
sMPC, network security. PhD.
Giuseppe Ateniese
Head of Research
Top 10 privacy and security
scholar worldwide. Co-
invented several encryption
technologies employed by
leading blockchain projects.
CS Department Chair at
Stevens Institute of Tech.
Fabian Eberle
Head of Biz Dev
Managed strategy and digital
transformation projects across
industries globally. Led setup
of new digital business. Scrum
master. Enterprise software
professional. INSEAD and
Wharton MBA.
14. dream team:
Core Dev
Qing Yang, PhD
Data Scientist
Zdenka Šeděnka
Dev Lead
Jaroslav Šeděnka, PhD
IT & Ops
Gianluca Turrisi
Core Dev
Adriano Di Luzio, PhD
Infrastructure
Martin Hinca
Core Dev
Maksym Bodnar
Project Management
Alexandra Au Yong
Core Dev
Ramdane Sennoun
mschf internet
studios
CSO
Paul Galwas, PhD
15. roadmap:
H1 ‘19 H2 '19 H1 ‘20 H2 ‘20H2 '18
Research
Build
Expand
ScaleFormation
• Tech team expansion
• Pre-seed Round
• Dev team expansion • Biz team expansion
• Pre-Series A Round
• Dev team expansion
• Biz team expansion
• Core team formation
• Angel Round
Team
• Core protocol dev
• Prototype: Mobile auth
• Technical Paper
[Keyless Protocol]
• IP prov. filings
• POC: MFA [Face +
ZKP] beta tested
• Technical Paper
[BAKE protocol]
• IP non-prov. filings
• MVP 1: Key Mgmt.
• Biometric modalities
expanded (e.g.,
behavioral, iris)
• Penetration testing
• MVP 2: Personal
Identity Mgmt.
• IaaS – full service
solution offering
• Start R&D
• Whitepaper Release
R&DBizDev
• Accelerators:
Longhash, Cylon
• Alliances: DIF, IBIA,
Sovrin Foundation
• 3 LOIs
• C5 Accelerate
• POC with integration
partners beta tested
• 10+ LOIs signed - initial
GTM partners secured
• Channel partnerships
with system integrator/
corporates signed
• MVP deployed with
initial customers
• Service/Product suite
extended
16. NOTHING TO REMEMBER.
NOTHING TO STORE.
YOU ARE THE KEY.
Discover how Keyless can simplify
your authentication workflow.
info@keyless.io
keyless.io
@keylesstech
SEAMLESS, ZERO-TRUST
BIOMETRIC AUTHENTICATION.
PRIVATE BY DESIGN.
17. Selected Completed NOAH Transactions
Focus on Leading European Internet companies
Covering over 400 companies across 25 online
verticals, a broad range of over 500 investors as
well as 100+ online-focused corporates
Deep understanding of industry dynamics
Ability to add value beyond banking advice
Facilitates overall process and minimizes
management distraction
NOAH Advisors is globally well connected
and has direct access to virtually all key
players in the industry
Knowledge of and strong relationships with
potential buyers’ key decision makers
Proactively finds and unlocks attractive
investment opportunities for leading investors
Annual NOAH Conference in its 10th year
Over 40 years of combined relevant M&A experience
Routine execution of M&A and financing transactions
with sizes of several billion euros
30 successfully completed NOAH Advisors transactions
underline successful transfer of M&A competencies to
the Internet sector
Entrepreneurial mind-set, focused on growing the
business and establishing a reputation for excellence
Ability to deliver top results in short time frames
Highly success-based compensation structures align
interests of clients and NOAH Advisors, and demonstrate
conviction to deliver top results
Creative deal solutions
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE®
The NOAH Advisors Core Banking Team
Marco Rodzynek
Managing Director & Founder
Jan Brandes
Managing Director
Nikhil Parmar
Director
Olek Skwarczek
Associate
Lukas Schlund
Analyst
December 2014 October 2014
Sale of 100% of
for $800m to
Exclusive Financial Advisor to
Fotolia and the Selling Shareholders
Sale of 100% of
for €80m to
Exclusive Financial Advisor to
Trovit and its Shareholders
October 2016
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
December 2016
August 2017
Financial Advisor to Silver Lake
Financial Advisor to EMK Capital
Investment in
Acquisition of a Majority Stake in
by
by
at a valuation of $200m
November 2019 July 2019
September 2018
Financial Advisor to MagicLab
Financial Advisor to AU10TIX
and its shareholders
Financial Advisor to 10bis
and its shareholders
Acquisition of a 79% stake in $60m Investment in
Sale of 100% in
by
at a valuation of ~$3 billion
at a valuation of $260m by
for €135m to
10Bis