AccessGrid raises $4.4M to help turn phones into key fobs

Auston Bunsen found himself with extra time after his blockchain platform, QuickNode, gained substantial traction. Founded in 2017, QuickNode successfully raised nearly $60 million, as noted by Pitchbook. This success prompted Bunsen to ponder how convenient it would be for users to unlock their doors using their iPhones. After discussions with Apple, Bunsen was encouraged to pursue a vision that would allow companies to leverage Apple Wallet technology for door access. Leaving QuickNode last October, Bunsen focused on his new venture, AccessGrid, which creates APIs enabling businesses to manage digital key fobs through Apple and Google wallet systems. "Our technology works with a locked iPhone, syncs with your watch, and operates even if your phone's battery is dead," Bunsen explained. AccessGrid, officially launched in April, recently announced a $4.4 million seed funding round led by Harlem Capital. Bunsen highlighted the need for innovation in the access control industry, which he believes is lagging behind, stuck in outdated systems that often rely on on-premises operations and unsecured communications. "AccessGrid provides an API that issues uncloneable credentials through encrypted data that can be revoked instantly via the cloud," he stated. "We aim to elevate physical security systems to meet 2025 standards." Given the nature of AccessGrid's offerings, cybersecurity is a primary focus. Bunsen emphasized the company's commitment to security, utilizing "military-grade" encryption and dual-encryption methods, along with multi-factor authentication for server access. Unlike his previous venture, Bunsen is building AccessGrid independently, describing the fundraising process as somewhat distracting from their main mission to serve customers. He connected with Harlem Capital’s managing partner, Henri Pierre-Jacques, through mutual friends in Miami. Other contributors to this funding round include investors from his QuickNode network, such as Marell Evans and Maya Bakhai. AccessGrid is entering a competitive market that includes startups like SwiftConnect and Sharry. However, Bunsen distinguishes his approach by focusing solely on API integration rather than offering service contracts or middleware for existing hardware. "We are a ‘pure play’ API-only platform," he noted, emphasizing that it is designed for developers rather than end-users. The recent funding will be allocated towards enhancing the app's security and developing new products. AccessGrid also has aspirations to branch into automotive access solutions. Bunsen envisions a future where physical keys are obsolete, and access is granted seamlessly through proximity. "We aim to create an environment where everything that requires a key opens simply because you are near," he concluded. "You'll never misplace your key again, making access quicker, safer, and more intuitive for everyone and everything."