In this article, we will take a closer look at BenjiLock, the innovative fingerprint-activated padlock that made waves on Shark Tank. We’ll explore the journey of BenjiLock’s founder, Robbie Cabral, his successful pitch on the show, and the post-show success that followed. Plus, we’ll delve into the expansion of the BenjiLock product line and the recognition and awards the company has received.
If you’re curious about the BenjiLock Shark Tank episode, the deal that was struck, and the reviews of this groundbreaking product, then read on to discover the fascinating success story that is BenjiLock.
- BenjiLock is a fingerprint-activated padlock that gained popularity on Shark Tank.
- Robbie Cabral, the founder of BenjiLock, spent four years perfecting the technology before appearing on Shark Tank.
- Cabral secured a deal with Kevin O’Leary, who invested $200,000 for 15% equity in the business.
- BenjiLock experienced post-show success, with Hampton Products International obtaining all North American rights to the product through a licensing deal.
- The product line expanded with the introduction of the Fingerprint Door Lock and the BenjiLock Fingerprint Bike Lock.
The Journey of BenjiLock
In 2013, Robbie Cabral embarked on a journey to revolutionize the world of padlocks. Inspired by the need for a secure yet convenient lock, he founded the BenjiLock company in Los Angeles. Over the next four years, Cabral dedicated himself to perfecting the technology behind his invention.
The result? A fingerprint-activated padlock that combines cutting-edge innovation with ease of use. BenjiLock utilizes Cabral’s patented fingerprint hybrid technology and can recognize up to four fingerprints. It also comes equipped with a standard key as a backup and boasts a long-lasting battery life of up to a year.
Despite its impressive features, BenjiLock was not yet available for sale. However, this was about to change.
In 2017, Cabral seized the opportunity to showcase his creation on the popular television show Shark Tank. He sought the guidance and support of the Sharks to help bring BenjiLock to the masses. Little did he know that this appearance would mark a major turning point in his entrepreneurial journey.
The Road to Success
Following his captivating Shark Tank pitch, Cabral garnered significant attention and interest in BenjiLock. The show not only provided a platform for exposure but also presented an opportunity for potential partnerships and collaborations.
While the product release was imminent, Cabral’s appearance on Shark Tank served as a springboard for BenjiLock’s success story. The incredible exposure brought forth exciting opportunities that would shape the future of the company.
Stay tuned as we delve into the details of Cabral’s Shark Tank journey and the remarkable success that followed.
|Robbie Cabral founds BenjiLock company in Los Angeles
|BenjiLock featured on Shark Tank
|Expected release of BenjiLock in the fourth quarter
The Shark Tank Pitch
During his appearance on Shark Tank, Robbie Cabral presented the BenjiLock to the panel of esteemed investors. His innovative invention, equipped with patented fingerprint hybrid technology, caught the attention of Alex Rodriguez and Kevin O’Leary.
Impressed by Cabral’s ingenuity and the unique features of the BenjiLock, both Rodriguez and O’Leary made offers to collaborate with the aspiring entrepreneur. Rodriguez, drawn by their shared Dominican roots, expressed his interest in partnering with Cabral.
“As a fellow Dominican, I have a personal connection to your product and believe in its potential.” – Alex Rodriguez
Ultimately, Robbie Cabral decided to accept Kevin O’Leary’s proposition. O’Leary offered a $200,000 investment in exchange for 15% equity in the BenjiLock business, solidifying a partnership that would fuel the growth and success of the fingerprint-activated padlock.
“I see the potential in your invention, and I am confident that together we can take it to new heights.” – Kevin O’Leary
After securing the deal with Kevin O’Leary on Shark Tank, BenjiLock experienced significant post-show success. A licensing deal was brokered by O’Leary, granting Hampton Products International, a renowned hardware and security company, exclusive rights to distribute BenjiLock in North America. This partnership opened doors to major retailers such as Walmart, Home Depot, Lowe’s, and Amazon, enabling wider accessibility for customers.
To showcase the impact of the licensing deal, a notable update segment featured Robbie Cabral, the founder of BenjiLock, and Kevin O’Leary receiving a remarkable royalty check of $100,000 from Hampton Products International.
This licensing partnership propelled BenjiLock into the mainstream market, allowing customers to experience the innovative fingerprint-activated padlock firsthand. With the product’s availability in leading retail outlets, more individuals were able to benefit from the cutting-edge security and convenience provided by BenjiLock.
Expansion of BenjiLock Product Line
In August 2020, Robbie Cabral expanded the BenjiLock product line with the introduction of the Fingerprint Door Lock. This new addition to the BenjiLock family can store up to ten fingerprints and also features a pin pad for code entry, providing users with multiple access options for added convenience and security.
The Fingerprint Door Lock combines cutting-edge fingerprint recognition technology with a sleek and durable design, ensuring that users can protect their homes and belongings with ease. It offers an innovative solution for those looking to enhance the security of their doors while enjoying the benefits of keyless entry.
In 2021, Cabral continued to innovate with the introduction of the BenjiLock Fingerprint Bike Lock. This innovative product not only keeps bicycles secure but also provides peace of mind to riders with its advanced fingerprint recognition technology. The BenjiLock Fingerprint Bike Lock was recognized for its innovation and awarded the prestigious 2021 TWICE PICKS Award at CES, further solidifying BenjiLock’s position as a leader in the smart security industry.
BenjiLock Net Worth and Revenue
As of August 2022, Robbie Cabral’s net worth is estimated to be $1.5 million, a testament to the success of the BenjiLock brand and the impact it has made in the market. Additionally, BenjiLock continues to experience remarkable success and growth, with an annual revenue of $5 million as of November 2023.
The expansion of the BenjiLock product line, coupled with its continued recognition and strong sales, further emphasizes the success story of this innovative company. By consistently introducing new and improved products that prioritize user security and convenience, BenjiLock has solidified its position as a leading provider of cutting-edge smart lock solutions.
|Fingerprint Door Lock
|Fingerprint Bike Lock
|2021 TWICE PICKS Award for innovation at CES
Recognition and Awards
BenjiLock, with its innovative technology, has garnered recognition and awards in the industry. The outstanding performance of the product was acknowledged at CES 2017 when it was named an Innovation Awards Honoree in the Smart Home category.
In addition, the BenjiLock Fingerprint Bike Lock was honored with the prestigious TWICE PICKS Award for innovation at CES 2021.
These accolades highlight the success story of BenjiLock and showcase the innovative vision of its founder, Robbie Cabral.
|Innovation Awards Honoree at CES
|TWICE PICKS Award for innovation at CES
Robbie Cabral’s Journey
Robbie Cabral’s journey as the founder of BenjiLock is truly remarkable. In 2013, after losing his job on the very day his child was born, Cabral decided to embark on a new path. As an immigrant from the Dominican Republic, he held a degree in advertising and was driven by a passion for innovation and entrepreneurship.
With a determination to create something meaningful, Cabral dedicated his time and energy to developing a revolutionary product that would change the way people secure their belongings. This led to the birth of BenjiLock.
Cabral’s vision was to create a padlock that combined the convenience of biometric technology with the strength and reliability of traditional locks. His innovative fingerprint-activated padlock, powered by his patented hybrid technology, caught the attention of the world.
“I wanted to create a lock that was not only secure but also convenient and easy to use. BenjiLock is the result of countless hours of hard work and perseverance.”
Through his sheer dedication and unwavering commitment, Cabral transformed his idea into a reality. Today, BenjiLock stands as a testament to his entrepreneurial spirit and serves as a powerful reminder that success can be achieved through perseverance and innovation.
Shark Tank Episode Details
BenjiLock’s appearance on Shark Tank episode 901 marked a significant moment for founder Robbie Cabral and his innovative fingerprint-activated padlock. The episode aired on October 22, 2017, captivating viewers with Cabral’s pitch to the Sharks.
Cabral showcased the incredible features and potential of BenjiLock, demonstrating its unique fingerprint recognition technology and its applications for enhanced security. His presentation generated excitement among the Sharks, who recognized the value and marketability of the product.
Ultimately, Cabral struck a deal with renowned Shark Kevin O’Leary. O’Leary’s investment of $200,000 secured him a 15% equity stake in the fast-growing BenjiLock business. This collaboration catapulted BenjiLock into a new phase of growth and development, laying the foundation for a successful partnership.
The exposure gained from this Shark Tank episode provided BenjiLock with invaluable visibility and access to a broader consumer market. It created numerous opportunities for the company to expand its reach and establish partnerships with prominent retailers.
Since the episode aired, BenjiLock has continued to thrive, transforming from an innovative idea into a popular and widely recognized product in the home security market.
|$200,000 for 15% equity
Feedback from the Sharks
During the Shark Tank pitch, Robbie Cabral and his innovative product, BenjiLock, received positive feedback from the Sharks. While Mark Cuban did not offer a deal, he praised the innovation behind the fingerprint-activated padlock. Lori Greiner expressed interest and offered to invest the requested amount. Barbara Corcoran made a unique offer, proposing that Cabral find another investor to participate in a partial investment. Lastly, Alex Rodriguez presented a joint offer with Barbara Corcoran.
“The BenjiLock is a game-changer in the security industry. It’s impressive to see the level of innovation Robbie has brought to the market with this product.”
Although Cabral received offers from multiple Sharks, he ultimately decided to partner with Kevin O’Leary, accepting his offer of a $200,000 investment for 15% equity in the business.
The Sharks’ Feedback at a Glance:
- Mark Cuban: Praised the innovation but did not offer a deal.
- Lori Greiner: Interested in investing the requested amount.
- Barbara Corcoran: Offered a partial investment, contingent on finding another investor.
- Alex Rodriguez: Made a joint offer with Barbara Corcoran.
Ultimately, Robbie Cabral’s decision to partner with Kevin O’Leary proved to be a strategic move for the future success of BenjiLock.
|Praised the innovation but did not offer a deal
|Offered to invest the requested amount
|Offered a partial investment if Cabral found another investor
|Made a joint offer with Barbara Corcoran
After the Shark Tank episode, Kevin O’Leary worked tirelessly to secure a licensing deal for BenjiLock. The efforts paid off when Hampton Products International obtained exclusive distribution rights for BenjiLock in North America. This strategic partnership allowed BenjiLock to reach a wider audience through major retailers, establishing a strong presence in the market.
BenjiLock Licensing Partnership Details
|Hampton Products International
The collaboration with Hampton Products International enabled BenjiLock to leverage its expertise in the hardware and security industry, ensuring that the innovative fingerprint-activated padlock reached the hands of consumers across North America. This strategic move opened doors for BenjiLock, leading to widespread availability and continued growth.
Continued Success and Recognition
BenjiLock’s journey of success and innovation has paved the way for the introduction of new products, solidifying its position as a leader in the market. Two notable additions to the BenjiLock product line are the Fingerprint Door Lock and the BenjiLock Fingerprint Bike Lock.
The Fingerprint Door Lock takes security to a new level with its ability to store up to ten fingerprints and a pin pad for code entry. This advanced technology ensures convenience and peace of mind for homeowners and businesses alike.
On the other hand, the BenjiLock Fingerprint Bike Lock brings the cutting-edge fingerprint recognition technology to the cycling community. This innovative lock provides a secure and hassle-free way to protect valuable bicycles.
“We are constantly striving to exceed customer expectations by delivering innovative and secure solutions for everyday needs. Our new products continue to leverage our patented fingerprint hybrid technology, ensuring that our customers can trust in the reliability and convenience of BenjiLock.” – Robbie Cabral, Founder of BenjiLock
The dedication to quality and invention has not gone unnoticed by the industry. BenjiLock has received prestigious recognition for its achievements. In 2021, the BenjiLock Fingerprint Bike Lock was honored with the TWICE PICKS Award for innovation at CES, solidifying its position as a trailblazing product in the market.
|BenjiLock Fingerprint Bike Lock – TWICE PICKS Award for Innovation at CES
These accolades and ongoing success are a testament to BenjiLock’s commitment to revolutionizing the way we secure our belongings. With its expanding product line, BenjiLock continues to push the boundaries of innovation and redefine the standards of security.
Looking ahead, BenjiLock’s future appears promising as the company continues to make significant strides in the smart lock industry. As of November 2023, the annual revenue of BenjiLock has reached an impressive $5 million, a testament to the brand’s growing popularity and market demand. With its innovative fingerprint-activated padlocks and expanding product line, BenjiLock has established itself as a reliable and trusted name in home security.
BenjiLock’s success can be attributed to its strategic partnerships and collaborations with major retailers. The company’s locks are currently being sold through various retailers, including well-known stores such as Walmart, Home Depot, Lowe’s, and Amazon. This widespread availability ensures that customers have easy access to BenjiLock’s products, further boosting the company’s revenue and market reach.
Furthermore, BenjiLock’s ongoing recognition in the industry has played a significant role in its future outlook. The brand’s innovative technology has garnered attention and accolades, including being named an Innovation Awards Honoree at CES, a highly prestigious consumer electronics show. This recognition not only enhances BenjiLock’s reputation but also solidifies its position as a leader in the smart lock market.
Q: When was BenjiLock featured on Shark Tank?
A: BenjiLock was featured on Shark Tank in episode 901, which aired on October 22, 2017.
Q: Who made a deal with Robbie Cabral on Shark Tank?
A: Robbie Cabral made a deal with Kevin O’Leary on Shark Tank.
Q: What was the deal made on Shark Tank?
A: Kevin O’Leary offered a 0,000 investment in exchange for a 15% equity stake in BenjiLock.
Q: What success did BenjiLock experience after Shark Tank?
A: BenjiLock obtained a licensing deal with Hampton Products International, which resulted in the lock being sold in major retailers like Walmart, Home Depot, Lowe’s, and Amazon.
Q: What other products has BenjiLock introduced?
A: BenjiLock has introduced the Fingerprint Door Lock and the BenjiLock Fingerprint Bike Lock.
Q: Has BenjiLock received any awards or recognition?
A: Yes, BenjiLock was named an Innovation Awards Honoree in the Smart Home category at CES 2017, and the BenjiLock Fingerprint Bike Lock won the TWICE PICKS Award for innovation at CES.
Q: What is Robbie Cabral’s background as the founder of BenjiLock?
A: Robbie Cabral is an immigrant from the Dominican Republic and holds a degree in advertising.
Q: What happened during Robbie Cabral’s Shark Tank pitch?
A: Robbie Cabral received positive feedback from the Sharks, with Mark Cuban praising the innovation, Lori Greiner offering to invest the requested amount, Barbara Corcoran offering a partial investment, and Alex Rodriguez making a joint offer with Barbara Corcoran. Ultimately, Cabral accepted Kevin O’Leary’s offer.
Q: What licensing partnership did BenjiLock secure after Shark Tank?
A: BenjiLock secured a licensing deal with Hampton Products International for all North American rights to the product.
Q: What is the future outlook for BenjiLock?
A: BenjiLock continues to sell its locks through various retailers, with an estimated annual revenue of million as of November 2023.