Allthenticate

Allthenticate

Use your smartphone to replace your passwords, keys, and cards, for everything.

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Security Type
SAFE
Min Investment
$250
Location
Goleta, CA
Offering Date
July 31, 2020
Expected Close Date
November 27, 2020
Target Raise
$50.00K-$250.00K
Deal Notes

Discount: 20%

At the company's next round of equity financing, investors will receive stock with a 20% discount to the valuation in that next round.

Company Description

At Allthenticate, we are building a better tomorrow: one without impossible passwords, annoying keys, or hardware tokens. We are building an all-in-one, secure, smartphone-based solution for all of your authentication needs (i.e., both physical and digital access control), which allows users to seamlessly interact with the world without ever worrying about keys, passwords, 2FA codes, or authentication at all, for that matter. Our patented technology is based on 10 years of research.As our name indicates, we plan on being "the" solution for all of your authentication needs. Whether it be unlocking the front door to your office, unlocking your computer, or logging into a website, Allthenticate will handle it. In 5 years we plan to offer both enterprise security solutions (i.e., securing both their physical doors and computer infrastructure) and consumer-facing offerings (e.g., "Sign in with Allthenticate"), which will offer both superior security and usability.

Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.

Perks

Invest $1,000+ for Company t-shirt (Choose between: "Your password is weak", or "Your smartcard is dumb" designs)
Invest $1,000+ for Company t-shirt (Choose between: "Your password is weak", or "Your smartcard is dumb" designs)

Key Deal Facts

We eliminate entire classes of cyber attacks (i.e., phishing and card cloning).
Companies can use our system to manage all of their physical and digital assets in one place.
We provide best-in-class security, without compromising usability. In fact, we try to make it fun!
We're the first to seamlessly merge digital authentication and physical access control.
Our flexible security ensures that our product will fit every user's needs, without any extra costs.

Use of Proceeds

$50,000

  • 6.5% will be used to pay the WeFunder fees and the rest
  • $46,750 will cover payroll expenses for our three interns for the next sixth months: - 2 Part time Software developer interns - 1 Part time Marketing Intern 

$250,000

  • 6.5% will be used to pay the WeFunder fees and the rest
  • $233,750 will cover payroll expenses.  This amount is $200,000 higher than our minimum Fundraise Target, which will allow us to hire full time employees in addition to our 3 part time interns that the minimum $50,000  of fundraise will cover, and it will include: - 2 Software engineering contractors for 12 months, starting September 2020 - 1 salesperson, starting January 2021 

Management Team / Advisory Board Bios

Chad Spensky
Co-founder and CEO
Ph.D. in Computer Science from UCSB’s SecLab. Chad has over 10 years of research experience and is a lifetime hacker and maker. He is passionate about using technology to make people’s lives easier and their digital systems more secure.

Rita Mounir
Co-founder and COO
Serial entrepreneur, Rita graduated with a degree in Financial Mathematics and Statistics from the University of California, Santa Barbara. Rita also co-founded "The Center of Academic Achievement", where she promoted partnerships in 6+ countries

Evan Blasband
Co-founder and CTO
With a M.S. in Electrical and Computer Engineering from UCSB, Evan has a passion for building systems at the intersection of hardware, software, and design that change the way people live their lives.

Deal Notes

Discount: 20%

At the company's next round of equity financing, investors will receive stock with a 20% discount to the valuation in that next round.

Amount Raised : $0
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Security Description

A SAFE is an agreement between you—the investor—and the company in which the company promises to give you a future equity stake based on the amount you invested. It also involves some kind of a triggering event that must take place in order for you to get your future equity stake. Be careful as you may only get equity if a particular event is triggered.

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