Tamiami Angel Funds invests in security software firm

Angel investors from Southwest Florida recently invested in Everykey, a software firm that helps organizations efficiently and securely manage access to their networks without cumbersome passwords.

Members of Tamiami Angel Fund V recently invested $875,000 in Everykey, becoming a major investor in the company’s $2 million fundraising round.

Everykey solves the bane of every organization’s tech department: “You don’t have to ever enter a password,” says Joe Mikhail, CEO of Everykey. It does that by enabling employees’ cell phones and other personal devices to automatically verify their identities when they get close to their workstations. Using Everykey, employees can access their company’s networks without having to remember and enter ever-changing passwords, resulting in improved security and lower costs of lost-password administration.

“Everykey delivers an elegant, affordable and employee-friendly security solution to network challenges that vex every IT department today,” notes Timothy Cartwright, partner of Fifth Avenue Family Office and chairman of Tamiami Angel Funds in Naples. “The company already has a track record of success with existing sales and we’re confident that will grow exponentially with the size of the market.”

Everykey’s service costs $5 per user per month or $50 a year prepaid. The company is focused on regulated industries such as financial services, legal and health care but any organization that requires password access to their network is a potential client.

Founded in Ohio by serial entrepreneur and company chairman Chris Wentz, Everykey plans to use the funds to build the scale it anticipates to support millions of users and continue to innovate. For example, artificial intelligence will allow Everykey clients to verify identities with more than just cell phones or personal technology devices. Behavioral and contextual will also be used to authenticate users, bringing additional levels of security and ease of use. “That’s where we’re headed,” says Mikhail, a veteran of building and exiting successful technology ventures.

Naples-based Tamiami Angel Funds are member-managed funds that allow high-net-worth individuals and families to invest in promising early stage and expansion-stage companies located in the U.S., with a preference to those in the state of Florida. For more information about Tamiami Angel Funds, visit www.tamiamiangels.com. For more information about Everykey, visit https://everykey.com/.