Israeli passwordless enterprise authentication developer Secret Double Octopus today announced the closing of a $15 million Series B financing round, which included investments from Sony Financial Ventures, KDDI, and Global Brain as well as prior investors Benhamou Global Ventures (BGV), Liberty Media, Iris Capital, Yaniv Tal and Jerusalem Venture Partners (JVP), the company's biggest investor.
Cybersecurity company Secret Double Octopus offers increased security, lower total cost of ownership and improved employee user experience and productivity.
The company has pioneered password elimination solutions through its proprietary phone-as-a-token tech prevents unauthorized use of a system and prevents identity theft. The company specializes in passwordless authentication for the enterprise, delivering security solutions that allow companies to leverage biometrics, mobile devices, and FIDO security keys to protect company assets. The Octopus Authentication Server allows employees to forego a password when logging into workstations, cloud services, legacy applications, and other common workplace tools. It also offers similar support for on-premises Active Directory systems.
Based in Beersheva, Secret Double Octopus was founded in 2015 by CSO Prof. Shlomi Dolev, CTO Dr. Shimrit Tzur-David, CEO Raz Rafaeli and VP R&D Chen Tetelman.
Rafaeli said, "This investment is further proof of the market need for our innovative product. It is now more important than ever to implement simple, fast solutions like ours that bolster security while simultaneously increasing employee productivity by eliminating the hassle and costs associated with password management."
Published by Globes, Israel business news - www.globes-online.com - on April 30, 2020
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