Benjilock Shark Tank Net Worth 2023
Benjilock’s net worth is $5 million as of 2022. Benjilock was valued at over $4 million in 2017. The valuation of Benjilock changed from $0.2 million to $1.33 million from 2017 to 2021. Benjilock’s founder, Robbie Cabral, has a net worth of $4.3 million as of 2022.
Based on the available information, it is not possible to determine Benjilock’s net worth in 2023.
However, given that the company has been successful and has seen significant growth in recent years, it is reasonable to assume that its net worth will continue to increase.
What is Benjilock? Who is the founder of Benjilock?
Benjilock, an LA-based company founded in 2014 by inventor and entrepreneur Robbie Cabral, has developed a revolutionary lock technology for cabinets or closets. The lock utilizes fingerprints as keys, allowing users to open it with a single scan of their finger.
The lock can recognize up to four fingerprints, and although it comes with a key, users may not need it as the lock’s battery can last up to a year depending on usage.
Cabral, a former law enforcement officer who retired in 2013, noticed people struggling with combination locks at his gym and sought to create a better solution. His idea resulted in Benjilock, a padlock that uses advanced technology to identify fingerprints.
Despite lacking computer skills, Cabral enlisted the help of an engineer and spent three years of his life savings developing a prototype. After showcasing his creation at the Las Vegas Consumer Electronics Show, Benjilock gained popularity and even received a CES Innovation Award.
Following this success, Cabral was encouraged to pitch his product on Shark Tank and ultimately made the cut. Today, Benjilock continues to revolutionize personal security with hybrid technology designed with the user in mind.
Benjilock Shark Tank Pitch
After completing his innovation, Robbie Cabral wanted to pitch his company’s concept to Shark investors for assistance in marketing the product.
He entered the pitch asking for $200,000 for 10% ownership of his firm with a value of $2 million.
During the pitch, Cabral explained that he designed the Benjilock after noticing stress in gym locker rooms when people forgot their locker combinations.
He then showed the sharks the progress of the Benjilock and explained its battery life, production costs, and market research.
After receiving offers from multiple sharks, Cabral ultimately closed a deal with Kevin O’Leary for $200,000 for 15% ownership of the company.
O’Leary pursued licensing prospects for Benjilock and arranged a license agreement with Hampton Products International.
Hampton gained the product’s North American rights and installed the locks in major stores. Cabral continued to innovate, releasing the Fingerprint Door Lock and the Benjilock Fingerprint Bike Lock, which received the Twice Picks Award for innovation in 2021.
Cabral’s net worth is estimated to be $1.5 million as of June 2021, and Hampton continues to sell the locks.
Net Worth of Benjilock
The company is estimated at valued at $4 million in 2021.
Benjilock Shark Tank Updates
Robbie Cabral appeared on Shark Tank in Season 9 Episode 4, seeking $200,000 for 10% equity in his fingerprint padlock, BenjiLock. Kevin O’Leary made a deal with Cabral, investing $200,000 for 15% equity in the company.
After the show, Mr. Wonderful sought licensing opportunities for BenjiLock and brokered a licensing deal with Hampton Products International, a hardware and security company.
As of August 2022, Cabral’s net worth is estimated at $1.5 million, and Hampton continues to sell the locks
In 2021, Cabral introduced the BenjiLock Fingerprint Bike Lock, which won the 2021 TWICE PICKS Award for innovation at CES. As of 2023, Benjilock is worth over $4 million.
Cabral has made significant strides since he was laid off from his previous job, bringing him one step closer to realizing the American Dream. BenjiLock has formed a collaboration with Hampton Products, and it is developing a “Back to School” product line to be released in the fall of 2023.
In summary, after appearing on Shark Tank, Robbie Cabral made a deal with Kevin O’Leary, who brokered a licensing deal with Hampton Products International for BenjiLock.
Cabral introduced the BenjiLock Fingerprint Bike Lock, which won an award for innovation at CES. As of 2023, Benjilock is worth over $4 million, and the company is developing a “Back to School” product line in collaboration with Hampton Products.
Summary of Benjilock:
| KEY INFORMATION | VALUE |
| Net Worth 2022 | $5 million |
| Valuation in 2017 | over $4 million |
| Valuation in 2021 | $1.33 million |
| Founder’s Net Worth 2022 | $4.3 million |
| Founder | Robbie Cabral |
| Benjilock Product | Fingerprint lock technology for cabinets, closets, padlocks, bike locks, and deadbolts |
| Shark Tank Deal | $200,000 for 15% ownership with Kevin O’Leary |
| Hampton Products Licensing Deal | Gained North American rights for Benjilock |
| Innovation Award | CES Innovation Award and TWICE PICKS Award for innovation at CES 2021 |
| Back to School Product Line | To be released in fall 2023 |
Benjilock FAQs
What Is Benjilock, Its Founder, And How Does It Work?
BenjiLock is a personal security company founded by Robbie Cabral in 2014. The company uses hybrid technology with the consumer in mind to redefine the personal security experience.
BenjiLock’s products include padlocks, bike locks, and deadbolts that use fingerprint hybrid technology to bring protection to consumers. The fingerprint technology can support up to 10 fingerprints and can also be opened using a traditional key.
One of the unique features of BenjiLock is that it is not connected to Wi-Fi or Bluetooth, which means it does not consume energy.
The company has secured distribution and manufacturing with some of the biggest names in the industry, including ACE Hardware, Walmart, Home Depot, QVC, and Lowe’s. BenjiLock has also won several awards, including the CES Innovation Award in 2017 and 2018.
Robbie Cabral, the founder, and CEO of BenjiLock, was inspired to create the company after being laid off from work and deciding to do better for himself and his family. He invented BenjiLock to provide personal security that is easy to use and accessible to everyone.
Cabral appeared on ABC’s “Shark Tank” and secured a $200,000 investment from Kevin O’Leary in exchange for 15% equity in the company.
Cabral also secured a licensing partnership with Hampton Products International, the leader in security and hardware innovations and makers of BRINKS locks, giving the startup over 30 years of manufacturing and production experience.
What Happened To The Benjilock After Shark Tank?
Benjilock is a padlock that can be unlocked with a fingerprint or traditional keys. The founder, Robbie Cabral, appeared on Shark Tank seeking an investment of $200,000 in exchange for a 10% ownership stake in Benjilock, worth $2 million.
Kevin O’Leary made a deal with Cabral for $200,000 for 15% equity. After the show, Mr. Wonderful sought licensing opportunities for Benjilock and brokered a licensing deal with Hampton Products International, a hardware and security company.
Since appearing on Shark Tank, Benjilock has gained popularity and received funding to continue expanding its product offerings. The valuation of Benjilock changed from $0.2 million to $1.33 million from 2017 to 2021.
As of August 2022, Cabral’s net worth is estimated at $1.5 million, and Hampton continues to sell the locks. Currently, Benjilock is worth over $4 million.
What Is The Current Valuation Of Benjilock?
The current valuation of Benjilock is estimated to be around $4 million. However, one source states that the net worth of Benjilock is $5 million as of 2022.
The company’s latest funding round was an angel round for $0.2 million in November 2017, and the latest post-money valuation is also from November 2017.
Another source estimates the value of Benjilock to be $1,333,333. It is important to note that valuations can fluctuate over time and may not be entirely accurate.
Is Benjilock Still In Business?
Yes, Benjilock is still in business as of 2022. The company has an annual revenue of $5 million and has formed a collaboration with Hampton Products to develop a “Back to School” product line to be released in the fall of 2023.
Benjilock was founded by Robbie Cabral, who appeared on Shark Tank in 2017 and received an investment from Kevin O’Leary. The company produces fingerprint-activated padlocks and bike locks that use hybrid patent technology.
In 2021, Benjilock won the TWICE PICKS Award for innovation at CES. As of August 2022, Robbie Cabral’s net worth is estimated at $1.5 million.
How much did he receive?
He received $200,000 for 15% equity of his company valued at $1.3 million.
Who is the Shark who makes a deal with him?
Shark Kevin O’Leary makes a deal with Robbie.
Does the product Benjilock works?
Yes, it works. One can open their door using a fingerprint or by entering a code and will put on a pin pad.
How much time does the charge last before you have to recharge?
The charge can last 1 year after being charged for 30 minutes.
How much was his company estimated at valued in 2021?
The company was worth $4 million in 2021.
Who bought Benjilock?
Hampton Products International, a hardware and security firm acquired the entire North American rights to Benjilock.
Where can you buy Benjilock?
One can buy it online from the website of Benjilock.
How much did it cost to make the product?
The two founders spent $87,000 to make their product, and they were able to get investors for $1 million.
What is the net worth of Robbie Cabral?
Robbie Cabral’s net worth is estimated at $1.5 million.
