SignalVault is a remarkable technological innovation that appeared on Season 7 of the popular television show Shark Tank. It is a credit and debit card protector designed to secure your RFID-enabled payment cards from digital thieves, who employ a method known as electronic pickpocketing or skimming.
SignalVault fits easily into any wallet or cardholder because it’s the same size as a credit card. SignalVault’s E-Field technology creates an electronic field around your cards, making them inaccessible to digital thieves.
Once placed in your wallet, it protects all cards within a 10-12 cm radius. Moreover, it doesn’t require any battery or charging; it is powered by the RFID scanner, trying to steal your information, thus creating an effortless user experience.
SignalVault represents a preventive solution to the rising global issue of digital theft. With the increasing number of contactless payment cards and passports with RFID chips, digital theft, and fraud risks are growing exponentially.
SignalVault addresses this issue by offering proactive protection. Its ease of use, compact design, and efficient technology make it a desirable product for consumers. Additionally, its affordable price point compared to the potential loss from identity theft further accentuates its appeal.
SignalVault uses advanced technology to deliver an easy-to-use, practical solution to a pertinent issue, showcasing the innovation that has made Shark Tank a successful platform for innovators and entrepreneurs.
|Product||Debit and Credit Card RFID Protection Wallet|
|Investment Seeking||$200,000 for 12.5% equity in SignalVault|
|Final Deal||$200,000 for 25% equity in SignalVault|
|Shark||Lori and Robert|
|Episode||Season 7, Episode 1|
|Business Status||In Business|
|Net Worth||$4 Million|
What is SignalVault?
SignalVault is a credit & debit card protector designed to protect your personal and financial information from electronic pickpocketing, also known as RFID skimming. It uses E-Field Technology and does not require batteries or charging to function.
SignalVault is a unique protective solution designed to safeguard your personal and financial data stored on your credit and debit cards. The primary function of SignalVault is to prevent electronic pickpocketing, a type of digital theft also acknowledged as RFID skimming.
Individuals using RFID technology to access and steal personal information from others without their knowledge or consent are committing this theft. SignalVault employs its proprietary E-Field Technology to deflect these illicit RFID scans, offering a robust shield for your sensitive data.
SignalVault’s standout feature is that it doesn’t require batteries or charging. This makes it an extremely user-friendly device, as users don’t have to worry about maintaining its power levels to provide protection.
In addition to this, SignalVault features a slim design crafted to fit seamlessly into any wallet without adding extra bulk. This makes it convenient to carry around daily while going about regular activities.
SignalVault’s protection is long-lasting, with coverage lasting several years per device. You can rest assured that once you’ve invested in a SignalVault, your cards will be protected for a long time. It’s an innovative solution for enhancing personal and financial security in this digital age.
Key features of SignalVault include:
- Protection for your credit and debit cards from unauthorized RFID scans.
- No battery requirement.
- Slim design that easily fits into any wallet.
- Protection coverage that lasts for years.
Who is the Founder of SignalVault?
SignalVault was founded by Chris Gilpin, an entrepreneur with a background in telecommunications. Before creating SignalVault, he worked in telecommunications for over a decade, where he honed his knowledge and understanding of wireless technologies.
His experience and exposure to wireless systems and their vulnerabilities played a pivotal role in creating SignalVault.
Gilpin got the idea for SignalVault after watching a news report about electronic pickpocketing, wherein thieves would use a card reader to steal credit card information from unsuspecting victims without even touching their wallets.
Realizing the gravity of the issue and recognizing a market need, he was inspired to create a product that could protect consumers from such digital theft.
This led to the conception of SignalVault, a card that used E-field technology to protect other cards in the same wallet from being read by unauthorized scanners.
Before appearing on Shark Tank, SignalVault was already a successful enterprise. Gilpin sold over 250,000 units through the SignalVault website and home shopping network channels.
He also attempted to get the product into larger retail stores but faced challenges due to lacking resources and connections.
Despite these obstacles, the initial success of SignalVault was a testament to Gilpin’s entrepreneurial spirit and the product’s utility in an increasingly digital world.
SignalVault was able to reach a wider audience thanks to Shark Tank’s platform and visibility.
How Was the Shark Tank Pitch of SignalVault?
Chris Gilpin appeared on Shark Tank in Season 7, aiming to secure investment and broaden SignalVault’s market reach. He presented his pitch confidently and clearly, explaining the rising threat of digital theft and how SignalVault provides a simple yet effective solution to this problem.
Gilpin asked the Sharks for an investment of $200,000 in exchange for a 12.5% stake in the company, valuing SignalVault at $1.6 million.
The Sharks were interested in Gilpin’s presentation, especially given the prevalence of credit card theft and the growing need for protection.
They were intrigued by the idea of a product that requires no charging or activation yet offers round-the-clock protection. However, they also expressed concerns about the product’s uniqueness, asking about patents and whether similar products existed in the market.
Gilpin alleviated their concerns by explaining that he had a utility patent-pending, which should protect the product from being duplicated by competitors.
He also emphasized that while there were similar products, none employed the same E-Field technology that SignalVault uses, making it uniquely effective.
After some discussion and negotiation, Gilpin secured a deal with two Sharks: Lori Greiner and Robert Herjavec. They offered $200,000 for a 25% stake, doubling Gilpin’s initial equity.
Chris thought for a while and accepted the offer from Lori Greiner and Robert Herjavec.
The partnership offered SignalVault financial support and the benefit of Lori’s retail experience and Robert’s business expertise in the tech industry. It was a successful pitch that promised to propel SignalVault to new heights in the market.
Final Deal: Lori and Robert agreed to invest $200,000 for a 25% stake in SignalVault.
What Happened To SignalVault After Shark Tank?
SignalVault experienced a substantial boost in its business following the appearance of Shark Tank. With the investment and the strategic partnership of Lori Greiner and Robert Herjavec, the company was able to expand its reach and visibility dramatically. The show introduced the product to a vast audience, resulting in increased orders.
SignalVault also benefited from improved retail distribution in addition to increased sales. With Lori Greiner’s guidance, often called the “Queen of QVC,” SignalVault entered major retail stores and was featured prominently on home shopping networks.
This new level of visibility further drove sales and allowed SignalVault to establish itself as a notable brand in the security industry. The company’s growth didn’t stop there.
SignalVault continued to innovate, developing new products with enhanced features to keep up with the ever-evolving technology landscape and meet its customers’ changing needs.
They have since added other products to their lineup, including a Security Card that offers the same RFID protection but includes a built-in Bluetooth tracker, allowing users to track their wallet using their smartphone.
SignalVault remains a successful business, a testament to the strength of its product and the strategic decisions made following its Shark Tank appearance.
Who is the Investor of SignalVault?
Lori and Robert from Shark Tank are investors in SignalVault. Her relationship with J.C. Greiner developed her business through the Home Shopping Network and Bed, Bath, and Beyond.
Greiner invented and patented a plastic earring organizer in 1996. She founded Clever & Unique Creations in 2000.
Herjavec developed BRAK Systems, a Canadian integrator of Internet security software, and sold it in 2000 for $30.2 million to AT&T Canada (now Allstream Inc.).
In 2003, he launched The Herjavec Group, which has grown to become one of Canada’s leading information technology and computer security companies, with annual revenue exceeding $200 million.
SignalVault Shark Tank Update
After appearing on Shark Tank, SignalVault saw significant growth and expansion. Chris Gilpin, the founder, increased his company’s workforce by hiring 12 new employees and expanding their office space. This growth was fueled by their successful appearance on QVC, where they sold more than 300,000 cards in less than eight minutes.
In addition to the boost in sales and company growth, Gilpin also received invaluable assistance from the Sharks, who invested in SignalVault, Lori Greiner, and Robert Herjavec.
Lori helped with sales and packaging, utilizing her extensive experience in retail and product development. Robert supported raising awareness for SignalVault, improving its website design, and enhancing SEO efforts.
However, the journey was not without its challenges. SignalVault faced accusations of false advertising from one of its top competitors, ID Stronghold, who claimed that tests had shown failures with previous versions of SignalVault’s RFID blocking technology.
In response to these accusations, SignalVault quickly updated its product and obtained a certificate attesting to its effectiveness. This swift action helped maintain customer trust; today, customer reviews are positive about their products.
Furthermore, SignalVault has managed to generate impressive revenues post Shark Tank. According to Gilpin, in the 14 months following his Shark Tank appearance, SignalVault generated more than $3.2 million in revenue. It is now available in major stores like Staples, Bed, Bath, and Beyond.
SignalVault’s product line has expanded beyond RFID-blocking cards to include wallets and other security items. Despite stiff competition in the RFID protection market, SignalVault has remained in business with an estimated 15 employees and a revenue of $662,000.
Overall, SignalVault has successfully leveraged its Shark Tank appearance to grow and expand its business.
Is SignalVault Still in Business?
Our research shows that SignalVault is still in business. After its successful appearance on Shark Tank, the company has seen a significant business increase, culminating in substantial sales numbers and growth.
SignalVault’s product, a credit card-shaped device designed to protect against credit card and identity theft by blocking RFID scanners, can still be purchased through the company’s website.
The company has also expanded its product line to include several other security-focused items such as the “Shield Wallet,” an IQCam outdoor security camera, and an IQConnect smart wall switch.
SignalVault has grown significantly since the “Shark Tank” episode aired. For example, in the 14 months following its appearance on the show, SignalVault did $3.2 million in sales, a significant increase over the previous annual average of $275,000.
This growth allowed Chris Gilpin to move the company from his home into a dedicated office space and hire employees.
As of 2023, Chris Gilpin, the entrepreneur behind SignalVault, has a net worth of between $4 and $5 million. SignalVault, his company, generates around $1 million in annual revenue.
SignalVault is still in business and seemingly thriving after its exposure on Shark Tank.
What Is the Net Worth of SignalVault?
According to our research, the net worth of SignalVault is estimated to be $4 million. The valuation of SignalVault was $800,000 after securing an investment from Lori Greiner and Robert Herjavec on Shark Tank.
Also, read about other businesses that appeared on Season 7 of Shark Tank:
- Pavlok Shark Tank Update | Pavlok Net Worth
- EZ-Pee-Z Shark Tank Update | EZ-Pee-Z Net Worth
- Controlled Chaos Shark Tank Update | Controlled Chaos Net Worth
- Sarah Oliver Handbags Shark Tank Update | Sarah Oliver Handbags Net Worth
- Better Life Shark Tank Update | Better Life Net Worth
- Dude Wipes Shark Tank Update | Dude Wipes Net Worth