AccessGrid Raises $4.4M to Replace Key Fobs with Smartphones

Auston Bunsen's New Venture: AccessGrid

Following the substantial growth of his initial company, QuickNode, Auston Bunsen found himself with increased discretionary time. Founded in 2017, QuickNode, a blockchain developer platform, successfully secured over $100 million in funding, as reported by PitchBook.

The Inspiration Behind AccessGrid

Bunsen began to contemplate the potential convenience of utilizing iPhones to unlock doors. He subsequently engaged in discussions with representatives from Apple, leading to a collaborative agreement. “Apple determined that I could contribute to their objective of empowering all companies to integrate the capabilities of Apple Wallet into access control systems,” Bunsen explained to TechCrunch.

Last October marked Bunsen’s departure from QuickNode, allowing him to dedicate his efforts to a novel concept: AccessGrid. This new company specializes in the development of APIs enabling businesses to manage digital key fobs directly within both Apple and Google’s wallet platforms.

How AccessGrid Functions

“The system operates even with a locked iPhone, automatically synchronizes with your Apple Watch, and, crucially, functions on iPhones even when the battery is depleted,” Bunsen stated. The official launch occurred in April, and a $4.4 million seed round, spearheaded by Harlem Capital, was announced on Tuesday.

Addressing Deficiencies in Current Access Control Systems

The State of the Industry

Bunsen observes that the access control sector remains largely unchanged since the late 1990s. A significant number of existing systems rely on on-premises infrastructure, lack cloud connectivity, or employ unencrypted communication methods and vulnerable ID card technologies.

“AccessGrid provides a solution by offering an API that generates uncloneable credentials utilizing encrypted data, with the ability for instant revocation through cloud-based management,” Bunsen clarified. “We believe it is essential to modernize physical security systems to meet the standards of 2025.”

Security Measures

Recognizing the critical importance of cybersecurity, Bunsen emphasizes the company’s implementation of “military-grade” encryption, alongside a dual-encryption approach. “We enforce multi-factor authentication for all server access and adhere to other established cybersecurity best practices,” he added.

Building AccessGrid and Securing Funding

Unlike his experience with QuickNode, which involved three co-founders, Bunsen is currently developing this product independently. He characterized the fundraising process as a potential source of distraction.

“Our primary focus is serving our customers; therefore, any activity that detracts from this goal is considered a distraction,” he explained.

Bunsen connected with Henri Pierre-Jacques, the managing partner at Harlem Capital, through mutual acquaintances in Miami. Additional investors included Marell Evans from Exceptional Capital and Maya Bakhai from Spice Capital, both of whom had previously invested in QuickNode. AccessGrid also benefited from participation in the HF0 accelerator program, receiving initial funding from the program.

Competitive Landscape and Future Plans

Differentiating Factors

AccessGrid faces competition from other companies in the space, such as SwiftConnect and Sharry. However, Bunsen asserts that his startup distinguishes itself by focusing solely on API provision. “We are a ‘pure play’ API-only provider,” Bunsen stated, emphasizing that AccessGrid is a developer platform, rather than an end-user application with API capabilities.

The newly acquired capital will be allocated to further enhancing the platform’s security, as well as the development of new products and features. The company anticipates expanding its offerings to include automotive applications in the near future.

Long-Term Vision

Bunsen’s ultimate goal is to modernize access control readers across the United States. “We envision a future where any object traditionally requiring a key can be accessed simply by proximity,” he said. “The elimination of lost keys is a key benefit, as your access is always with you. Our aim is to make access faster, safer, and more seamless for both people and machines.”

Note: This article has been updated to accurately reflect the total funding raised by QuickNode.