Bulgarian BlackPeak Capital has announced a new investment in Bulgarian-founded Alcatraz, a company specializing in facial biometric authentication for physical access control, as part of a $35 (€29.77) million Series B funding round.
The round was co-led by BlackPeak Capital, Cogito Capital, and Taiwania Capital, with additional participation from existing investors including Almaz Capital, the European Bank for Reconstruction and Development (EBRD), and entrepreneur Ray Stata.
The company has also secured a further $15 million in commitments from other investors, bringing its total funding to over $100 million since its founding.
The investment marks one of the final commitments from BlackPeak Southeast Europe Growth Equity Fund I, which focuses on high-growth companies from Southeast and Central Europe with global expansion potential. The newly raised capital will be used to accelerate product innovation, expand into new international markets, and grow Alcatraz’s team.
Alcatraz targets legacy access systems
Founded in 2016 by former Apple engineer Vince Gaydarzhiev, Alcatraz develops AI-powered facial authentication systems designed to replace traditional access methods such as badges, PIN codes, and mobile credentials. The company’s technology is already deployed by Fortune 500 firms, including several leading U.S. AI infrastructure operators.
“We see exceptional potential in Alcatraz as a global leader in next-generation access control,” said Ivailo Gospodinov, Managing Partner at BlackPeak Capital. “The company is addressing a critical challenge — securing the physical infrastructure behind AI and cloud technologies.”
He added that the investment aligns with BlackPeak’s strategy of supporting scalable, technology-driven companies from the region.
Rising demand for secure AI infrastructure
The move comes amid rapid growth in AI infrastructure, with data centers becoming increasingly critical to the global digital economy. Industry projections suggest global AI spending could exceed $632 billion by 2028, while demand for data center capacity is expected to grow sharply in the coming years.
Alcatraz CEO Tina D’Agostin highlighted the limitations of legacy security systems, noting that traditional credentials such as badges and PINs are vulnerable to theft and misuse.
“As AI infrastructure becomes more valuable, it also becomes a bigger target,” she said. “Organizations need a stronger, seamless, and privacy-first approach to access control.”
Strong growth across enterprise and data center markets
Alcatraz reports strong business momentum, including 200% year-over-year growth in new enterprise customers and a fivefold expansion across Fortune 500 deployments. Adoption in data centers has also surged, with more than 300% growth recorded in 2025.
Its clients span a wide range of sectors, including corporate campuses, financial institutions, airports, universities, stadiums, and R&D facilities.
