Are you always remain worried about your money being stolen from your card?
Well, all your worries are gone. Presenting to you the one and only SIGNAL VAULT to protect you, Credit Card, Passport, Travel Wallet, and Cameras cater to your every security need.
For this Company, it was a dream come true for its founder Chris Gilpin who got the winning lottery of $1M, which led him to start this business. Chris came up with a safe and secure card to protect from high-tech pickpockets.
Signal Vault at a glance:
| BUSINESS IDEA | Credit and Debit card protection from high-tech pickpockets. |
| FOUNDER | Chris Gilpin |
| ASKED FOR | $200,000 For 12.5% |
| ACCEPTED OFFER | $200,000 For 25% |
| SHARK | Lori Greiner And Robert Herjavec |
| BUSINESS STATUS | In Business |
Index:
Who is Signal Vault Founder?
The company is founded and headed by Chris Gilpin in 2013. Chris developed the credit card protector that was with E-field technology. This technology helps you keep your information safe from hackers.
Now it has expanded its business from making travel wallets to passport covers and much more. Having been an expert in mobile crimes. Chris came up with the idea to lower the risk of crowd hacking to users. The first-ever sales he did were in a show known as QVC and they sold 4800 cards in just 8 mins and made more than $300,000 in sales.
How was the Signal Vault Shark Tank Pitch?
Chris Gilpin, after attending a security conference where he watched a demonstration on electronic pickpocketing. Combining his Lottery win this idea moved into a startup.
This product protects Credit Cards, Debit Cards using E-field technology. Basically, it produces a radiofrequency to block incoming signals. Chris Gilpin entered seeking $200,000 for 12.5% of his business.
The concept got Sharks’ attention immediately and both Lori and Robert were in consensus. Lori said “Yes I will do it”, will you Robert asked without hesitation and joined her in the deal.
Robert and Lori came with an offer of 200,000 for 25% of the company. Chris was delighted and accepted the offer. The Shark Tank reviews and blog triggered the required marketing boost to the company.
What Happened to Signal Vault After Shark Tank?
Post QVC where they sold 4800 cards in just 8mins and made more than $300,000. Chris expanded their business by having 12 employees in operations with additional office space.
The shark tank duo Lori and Robert helped in many ways where Lori helped in sales and packaging while Robert helped in spreading awareness, website creation, and SEO. Both the Sharks quickly contributed to the SIGNAL VAULT business growth.
During SignalVault’s initial success, there seemed to be mixed reviews about its RFID-blocking effectiveness. One of the leading competitors ID Stronghold showcased failed tests with earlier versions of SignalVault. This caused a glitch causing some customers to discredit SignalVault with deceptive advertising.
SignalVault was quick to rebound with a newer version that comes with a certificate verifying its effectiveness. Today’s reviews from customers appear to be pleased with their products.
According to Chris, SignalVault has done over $3.2 million in sales in the 14 months after his Shark Tank appearance and has been featured in stores like Staples and Bed, Bath and Beyond. In 2021, Chris’s net worth is $4-5 million.
The net worth of Signal Vault:
The valuation of the firm has increased from $800,000 and reached $3.2 Million in 2021. According to Chris, SignalVault has done over $3.2 million in sales in the 14 months after his Shark Tank appearance and has been featured in stores like Staples and Bed, Bath and Beyond.
Investors in Signal Vault:
- The investors in SignalVault are Lori and Robert of Shark tank.
- In 1996, Greiner created and patented a plastic earring organizer. J.C. Penney. After her success with J.C. Penney, Greiner expanded her company, with her product appearing on Home Shopping Network and in the retail store Bed, Bath and Beyond. In 2000, she launched Clever & Unique Creations.
- Herjavec founded BRAK Systems, a Canadian integrator of Internet security software, and sold it to AT&T Canada (now Allstream Inc.) in 2000 for $30.2 million
- In 2003, he founded The Herjavec Group, now one of the largest information technology and computer security companies in Canada, with over $200 million in annual revenue.
Interesting Product Facts:
SIGNALVAULT protects Credit cards and Debit Cards, has some very interesting facts:
- SignalVault card works by releasing a radiofrequency signal in response to any scanning attempts by a hacker. The emitted signal blocks RFID scanners to protect your data from being stolen.
- Does not need any charging or batteries
- Fits in any wallet.
- Make information invisible to hackers.
Is Signal Vault still in business?
SignalVault’s line of RFID-blocking cards now includes wallets and other security products. The company faces more competition today, from more various brands vying for a piece of the RFID protection market but SignalVault still remains in business with an estimated 10 employees and annual revenue of $662,000.SignalVault continues to be a profitable and growing business post-Shark tank episode.
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FAQs:
What is Signal Vault?
SIGNAL VAULT protects your Credit Card, Passport, Travel Wallet, and Cameras from high-tech pickpockets.
Who founded Signal Vault?
Signal Vault is founded and headed by Chris Gilpin in 2013. Chris developed the credit card that was with E-field technology.