SignalVault Update | Shark Tank Season 7

Chris Gilpin came up with the idea for SignalVault after learning how thieves use RFID scanners in places like malls to steal card information without people knowing. The problem became even clearer when the Target credit card data breach showed how easy it was for personal information to be stolen. To fix this, he created SignalVault, a $15 device that blocks scanners and protects people’s card details. Will the Sharks see the potential? Let’s find out in this SignalVault update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to SignalVault after Shark Tank.

Chris entered Shark Tank Season 7, seeking $200,000 for 12.5% equity in SignalVault. After his pitch, he left, securing a deal with Robert Herjavec and Lori Greiner for $200,000 for 25% equity.

In terms of a SignalVault update, the company experienced rapid growth after its Shark Tank appearance, selling out 4,800 units on QVC with Lori Greiner in just eight minutes. The company expanded its operations, generating $2 million in sales within a few months.

Shark	Result
Robert Herjavec and Lori Greiner	Accepted offer of $200,000 for 25% equity
Kevin O’Leary	$200,000 for 20% equity
Mark Cuban	No offer
Ashton Kutcher	No offer

Shark Tank SignalVault Pitch

• Entrepreneur: Chris Gilpin
• Business: RFID scanner jammer to protect personal information
• Ask: $200,000 for 12.5% equity
• Result: $200,000 for 25% equity
• Sharks: Robert Herjavec and Lori Greiner

Chris entered Shark Tank on a mission to protect people from the growing threat of credit card fraud.

He sought an investment to scale production and strengthen the brand against competitors.

To demonstrate his product, he handed out samples and explained how hackers use RFID readers to scan credit card chips and steal personal information.

Unlike its competitors, SignalVault requires no charging or batteries, making it a simple, hassle-free solution.

With his cybersecurity background, Chris developed SignalVault, a small card that slides into a wallet alongside other credit and debit cards.

More importantly, the chip inside blocks RFID readers, preventing thieves from stealing card numbers, security codes, and other sensitive data.

He emphasized how easily criminals can capture financial details just by passing someone in a store.

Chris shared that SignalVault retails for $14.99, while production costs are only $0.75 per unit.

Over nearly two years in business, he had already sold 45,000 units, generating $300,000 in sales.

He started the company with just one dollar from a lottery ticket, turning that small investment into a growing business.

The sharks quickly saw potential in the product. Kevin O’Leary offered $200,000 for 20% equity, highlighting how his financial expertise could add credibility to the brand.

On the other hand, Lori Greiner saw an opportunity to sell it on QVC and made a counteroffer of $200,000 for 18% equity.

However, guest shark Ashton Kutcher had concerns about market competition and dropped out.

Mark Cuban believed Kevin’s offer was the best choice and also stepped away.

Kevin reinforced his position by stating that SignalVault’s connection to financial security made him the most logical partner.

At the same time, Robert Herjavec stepped in with an even stronger offer of $200,000 for 15% equity, believing the product could grow as a key security investment.

Chris, seeing an opportunity, asked if Robert and Lori would be willing to team up for $250,000 at 18% equity. Robert declined, and Lori pushed for a better deal.

Eventually, Chris secured a deal with both Robert and Lori at $200,000 for 25% equity, giving him two experienced partners to help scale his business.

With a deal in place, let’s check in on the company’s progress in our SignalVault update.

Shark Tank SignalVault Update

Our SignalVault update found that the day after Signal Vault aired, Chris was on QVC with Lori and they sold out 4800 units in eight minutes.

Furthermore, the company received another boost in Season 7 when an update segment showcased its rapid growth just months after its initial appearance.

In those few months, Chris expanded his team and made $2 million in sales.

Meanwhile, Robert played a key role in improving SignalVault’s online presence.

As a result, he leveraged his expertise to redesign the website, optimize it for search engines, and handle increased web traffic. These changes helped drive even more sales.

The business is still operational with annual sales of more than $5 million.

The product remains available on Amazon and the SignalVault website.

We’ll keep an eye on future SignalVault updates and its continued success.

Curious about what happened to the other companies featured on Shark Tank Season 7 Episode 1? You can find our other company updates from this episode below.

• The Beebo Update
• Acton Update
• McClary Bros. Drinking Vinegars Update

Before you go, be sure to check out our list of all the Shark Tank Season 7 products.