# Oloid

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/oloid

- Industry: Software
- Headquarters: Sunnyvale, US
- Website: www.oloid.ai
- Total disclosed funding: $22M
- Latest round: Series A (Aug 26, 2024)
- Investors on record: 10

## About

Oloid Inc. provides passwordless authentication solutions tailored for frontline workers and deskless employees, enhancing security and user experience in various industries through advanced technology.Oloid Inc. develops innovative authentication solutions aimed at improving access for deskless employees. Founded in 2018 in Sunnyvale, US by Madhu Madhusudhanan and Mohit Garg, the company has successfully completed three investment rounds. Their most recent funding was a Series A round in October 2024, raising USD 1.5 mn, led by Yaletown Partners with participation from Carya Venture Partners, Exposition Ventures, and the George Kaiser Family Foundation. The total amount raised to date is USD 1.5 mn, with a current company valuation of USD 47.82 mn.Oloid specializes in passwordless authentication solutions designed specifically for frontline workers and deskless employees. Their core offerings include seamless, secure access to digital and physical resources, eliminating the need for traditional password systems. Key functionalities encompass continuous authentication, real-time verification, and automated compliance processes, aimed at enhancing security without requiring users to manage physical devices. Oloid's technology caters to various industries, including manufacturing, retail, healthcare, and contact centers, providing functionalities such as tablet-based time tracking, secure login to shared devices, and easy self-service password resets. The solutions are deployed across multiple geographical markets, targeting organizations that prioritize modern cybersecurity and identity access management (IAM) for their workforce, particularly in high-turnover environments or sectors with strict compliance requirements.Oloid generates revenue through subscriptions to its passwordless authentication services, typically structured as B2B transactions with various organizations that utilize their solutions for workforce management and security. Clients may engage in multi-year contracts that encompass a range of services, including the implementation of Oloid's comprehensive identity access framework and ongoing customer support. For instance, a retail client might subscribe to Oloid's solutions, enabling passwordless login for employees at point-of-sale (POS) devices, while also leveraging integration with existing IT systems for enhanced operational efficiency. The pricing mechanism often involves tiered plans based on the scale of deployment, allowing businesses to select options that best fit their user base and operational needs. Products such as the Oloid Time Clock and associated workflow automation tools form the backbone of this revenue structure, catering to organizations aiming to improve both security and user experience.In October 2024, Oloid Inc. raised USD 1.5 mn in a Series A round led by Yaletown Partners to support its expansion, particularly by strengthening its engineering and product teams in India. The company plans to design and launch new products aimed at enhancing its service offerings while targeting expansion into new markets. Specific regions targeted for this geographic expansion include North America and Europe, with a focus on establishing a stronger presence by the end of 2025.

## Funding rounds

- Series A, Aug 26, 2024, $1.5M — Yaletown Partners, George Kaiser Family Foundation, Carya Venture Partners, Exposition Ventures
- Series A, Nov 18, 2021, $15M — Plug and Play, Dell Technologies Capital, Honeywell Ventures, Emergent Ventures, Unusual Ventures, Okta Ventures
- Seed, Jun 1, 2020, $5M — Plug and Play, Emergent Ventures, Unusual Ventures

## Investors

- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed, Series A
- Emergent Ventures (https://capitalatlas.ai/funds/emergent-ventures) — Seed, Series A
- Unusual Ventures (https://capitalatlas.ai/funds/unusual-ventures) — Seed, Series A
- Dell Technologies Capital (https://capitalatlas.ai/funds/dell-technologies-capital) — Series A
- Honeywell Ventures (https://capitalatlas.ai/funds/honeywell-ventures) — Series A
- Okta Ventures (https://capitalatlas.ai/funds/okta-ventures) — Series A
- Yaletown Partners (https://capitalatlas.ai/funds/yaletown-partners) — Series A
- George Kaiser Family Foundation — Series A
- Carya Venture Partners (https://capitalatlas.ai/funds/carya-venture-partners) — Series A
- Exposition Ventures (https://capitalatlas.ai/funds/exposition-ventures) — Series A