Foundation Devices
Summary active Updated May 23, 2026This profile is AI-generated. If you spot an error, please help us fix it by sharing a URL to the correct information.
Founders
About
Foundation Devices is a Boston-based hardware security company founded in 2021 by CEO Zach Herbert and CTO Ken Carpenter, best known for its Bitcoin hardware wallets (Passport line) and now expanding into broader digital security including identity, multi-factor authentication, and AI-agent authorization 123. The company is rolling out general availability of its flagship Passport Prime device — integrating a Bitcoin wallet, security keys, encrypted storage, and a developer interface — and is opening KeyOS, its software platform, to third-party developers with a planned app store launch in Q2 12. The $6.4M round announced May 21, 2026 was led by Fulgur Ventures with participation from Arche Capital, bringing total funding to $16.5M; prior backers include Polychain Capital, which led the 2022 $7M seed 123.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-05-21 | Growth | $6.4M | Fulgur Ventures | Arche Capital 123 |
| 2022 | Seed | $7M | Polychain Capital | — 2 |
| 2021 | Pre-Seed | $2M | — | — 2 |
What Investors Say
No independently sourced investor quotes found at this time.
What Founders Say
“Every era has its key management problem. For bitcoin it was self-custody. For the agentic era it is who actually authorizes the decisions an AI agent takes on someone’s behalf.”
— Zach Herbert, Co-Founder & CEO, Foundation Devices 2
Sources
-
Crypto.news, “Foundation raises $6.4M to expand beyond Bitcoin wallets,” May 21, 2026. Accessed May 2026. https://crypto.news/foundation-raises-6-4m-to-expand-beyond-bitcoin-wallets/↩↩↩↩
-
Bitcoin.com News, “Foundation Raises $6.4M to Build Hardware That Authorizes AI Agents in Real Time,” May 22, 2026. Accessed May 2026. https://news.bitcoin.com/foundation-raises-6-4m-to-build-hardware-that-authorizes-ai-agents-in-real-time/↩↩↩↩↩↩↩
-
CryptoNews, “Foundation raises $6.4M to expand beyond Bitcoin wallets,” May 21, 2026. Accessed May 2026. https://cryptonews.net/news/finance/32898969/↩↩↩