Benjilock Shark Tank Net Worth (Before and After Shark Tank)

Benjilock, founded by Robbie Cabral, is an LA-based company that developed a revolutionary lock technology for cabinets and closets. The lock uses fingerprints as keys and can recognize up to four fingerprints. It also has a battery life of up to a year. As of 2022, Benjilock’s net worth is $5 million, and the company was valued at over $4 million in 2017. Robbie Cabral, the founder of Benjilock, has a net worth of $4.3 million as of 2022.

Key Takeaways:

• Benjilock, founded by Robbie Cabral, is an LA-based company that developed a revolutionary lock technology.
• The lock uses fingerprints as keys and can recognize up to four fingerprints.
• As of 2022, Benjilock’s net worth is $5 million, and the company was valued at over $4 million in 2017.
• Robbie Cabral, the founder of Benjilock, has a net worth of $4.3 million as of 2022.

The Journey of Benjilock on Shark Tank

When Benjilock founder Robbie Cabral appeared on Shark Tank in 2017, he had high hopes for securing a deal that would catapult his innovative lock technology into the mainstream. With a valuation of $2 million, Cabral pitched Benjilock to the sharks, seeking $200,000 for a 10% ownership stake in the company. His goal was to secure not only the financial investment but also the mentorship and network of the sharks.

During his pitch, Cabral demonstrated the impressive features of Benjilock, showcasing its long battery life, production costs, and market research. The sharks were intrigued by the fingerprint recognition technology and saw its potential in various markets. Ultimately, it was Kevin O’Leary who saw the most potential in Benjilock and made a deal with Cabral. O’Leary invested $200,000 for a 15% ownership stake, giving Benjilock the boost it needed to succeed.

After the show, O’Leary wasted no time in pursuing licensing opportunities for Benjilock. He leveraged his connections and arranged a license agreement with Hampton Products International, a leading provider of security products. This partnership helped expand Benjilock’s distribution and reach, further solidifying its position in the market.

The Impact of Shark Tank

The appearance on Shark Tank not only provided Benjilock with financial backing but also gave the company valuable exposure to a wider audience. The episode showcased the lock’s unique features and demonstrated its potential as a game-changer in the security industry. The endorsement and investment from a shark like Kevin O’Leary added credibility and validation to Benjilock’s innovative technology.

Benjilock’s Journey on Shark Tank	Results
Valuation	$2 million
Investment Sought	$200,000 for 10% ownership stake
Investment Secured	$200,000 for 15% ownership stake
Partnership with Hampton Products International	License agreement secured
Current Net Worth	Over $4 million

Fast forward to 2023, and Benjilock’s net worth has soared to over $4 million. The company’s continued success can be attributed to its innovative product line and strategic partnerships. The collaboration with Hampton Products International has enabled Benjilock to expand its distribution network and explore new avenues for growth.

Looking ahead, Benjilock has exciting plans for the future. The company is currently developing a “Back to School” product line in collaboration with Hampton Products International, catering to the needs of students and parents seeking reliable and convenient security solutions. With Robbie Cabral’s continued drive and innovation, Benjilock is poised for even greater success in the coming years.

Benjilock’s Continued Success and Future Plans

Since its appearance on Shark Tank, Benjilock has experienced remarkable growth and achieved continued success. Under my leadership as the founder and CEO, Benjilock has become a household name in innovative lock technology. Our commitment to pushing boundaries and meeting customer needs has propelled us to great heights.

In addition to our original lock, Benjilock has expanded its product range to cater to diverse markets. Our groundbreaking Benjilock Fingerprint Bike Lock, which won the prestigious TWICE PICKS Award for innovation at CES in 2021, solidified our position as industry leaders.

Our strategic partnership with Hampton Products International has been instrumental in our expansion. This collaboration has opened doors to wider distribution channels and increased our reach. With their support, we have been able to connect with more customers and deliver our cutting-edge products to a larger audience.

Looking ahead, we have exciting plans in the pipeline. In collaboration with Hampton Products, we are developing a “Back to School” product line, catering to the specific needs and demands of students and parents. This expansion into new market segments further demonstrates our commitment to innovation and growth.

In Conclusion

Benjilock’s net worth continues to rise, currently surpassing $4 million. As the founder and CEO, I am thrilled with our progress and excited about the future. With our relentless pursuit of excellence and a passion for delivering innovative solutions, Benjilock will continue to achieve new milestones and redefine the lock industry.