Speedinvest Blog

The Identity Platform for Web 3.0: Our Investment in IndyKite

October 21, 2021


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Timothy Krause

IndyKite founder, Lasse Andresen, is the co-founder and former CTO of ForgeRock (NYSE: FORG) which IPOed in September

The number of devices and logins to manage is exploding

Identity and Access Management (IAM) software has a big task to tackle. Identifying and orchestrating data access levels to millions of employees and customers, securing data from hundreds of legacy and cloud software systems and complying with government regulations are only a handful of IAM softwares’ key jobs. On top of this all, IAM also has to deal with managing a massive amount of non-human entities as  the world will soon contain more than 75bn IoT devices. Are current technologies up to the task?

Traditional IAM software doesn’t like change

Current IAM solutions are well suited for static worlds. These platforms were built on hierarchical data models like lightweight directory access protocol (LDAP) or rigid table structures (schemas) like SQL. When employees, customers, or third party entities are onboarded to an enterprise, IAM admins simply give developers access to all of the data developers should have access to. Executives get access to all of the data executives should have access to and so on. If nothing changes in a year... perfect. No problem. Life is easy. 

But what if this isn’t the case (which it never is)? What if people switch roles within organizations? Or what if enterprises have to constantly collect different streams of dynamic data from millions of edge devices? Or what if a tech company steadily releases new consumer-facing apps? In these scenarios, legacy IAM software swiftly meets serious, fundamental bottlenecks and becomes a corporate liability with direct top and bottom-line implications for enterprises.

IndyKite’s Identity Knowledge Graph™

IndyKite is building a new paradigm of digital identity solutions, based on a model that solves for all kinds of identities and the many ways they interact with and inform each other. Identity is the inherent mechanism to enable, secure and prove trust. Connected data, in what is known as IndyKite’s Identity Knowledge Graph, provides the power to ask unprecedented questions for context-aware, real-time recommendations, hyper-personalization and fine-grained authorization decisions.

IndyKite’s tagline is The Identity Platform for Web 3.0, as it provides end-users the ability to control and manage their personal data. Given the right permissions, the solution further aims to transform digital identity from a corporate liability into a business asset. 

We trust that the IndyKite team has found the right architecture and approach to make this vision a reality and that the commitment to make the platform easily deployable/consumable for developers thru APIs/SDKs to serve end-users, community and customers in an optimal way.

A proven team of experts

All of these factors surrounding IndyKite’s product make us pleased to announce our investment alongside Alliance Ventures . But ultimately, we’re the most excited to work with IndyKite because of the grade A founding team. IndyKite was founded by Lasse Andresen, ex-C level executive at Silicon Valley’s legendary Sun Microsystems and co-founder/CTO of ForgeRock (NYSE: FORG), alongside a core team of the world's leading digital identity experts. Not only does Lasse bring deep industry expertise to the table, but buckets and buckets of positive energy and enthusiasm which tends to rub off on those around him. Keep your eyes peeled for a product launch in the next few weeks!

We're not the only ones excited by IndyKite. Read more on Tech.eu.

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