PixelPin, a UK-based company that is dedicated to securing personal and business information without using a keyboard, recently closed its equity crowdfunding campaign on Seedrs with a total of £1,467,762 secured. As previously reported, PixelPin stated it is focused on the use of pictures. Using pictures is more personal, more secure and more likely to be widely used by the non technologically minded. The company revealed:
“Quite simply, the market for PixelPin is the replacement of passwords. The use of pictures to replace passwords has many advantages. According to the study of ‘Picture Superiority Effect’ the human brain processes pictures in a different way to the way in which words are committed to memory, therefore making it easier for a human to remember visually rather than in word format. Moreover, pictures have a significant advantage over the password as they are difficult to hack, provide no language barriers and are easy to use regardless of your ability or disability.”
In regards to what the funds from the Seedrs round will be used for, PixelPin revealed:
“The proceeds will be primarily used to strengthen the commercial activities of the team. We have recruited an experienced cyber security sales person, and intend to invest in an account manager as the business develops. The sales organisation will comprise lead generation from events and in-bound marketing campaigns, and experienced sales people to close opportunities.”
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