API’s voor digitale identiteit en bezitsfactor bieden krachtige nieuwe authenticatietools om bedrijven te helpen de groeiende dreiging van cybercriminaliteit te bestrijden

LONDEN & SAN FRANCISCO–(BUSINESS WIRE)– tru.ID (https://tru.id), het baanbrekende wachtwoordloze authenticatieplatform dat gebruikmaakt van simkaartcryptografie, kondigt vandaag aan dat Sorenson Ventures is toegetreden tot zijn startfinancieringsronde, naast Episode 1, MMC Ventures en NHN Ventures, waarmee de totale startfinanciering van het bedrijf op 9 miljoen dollar komt. Sorenson biedt sterke in de VS gevestigde verbindingen die waardevol zullen zijn als het bedrijf zich voorbereidt om zijn diensten op de Amerikaanse markt uit te rollen.

tru.ID bestaat om bedrijven te helpen bij het oplossen van de $ 1 biljoen dreiging van cybercriminaliteitsaanvallen op klanten en werknemers. In de post-COVID hybride wereld van vandaag zijn verouderde authenticatiemethoden, waarbij gebruik wordt gemaakt van wachtwoorden en pincodes die per e-mail of sms worden verzonden, niet langer geschikt voor hun doel: ze zijn kwetsbaar voor criminele aanvallen zoals phishing en bieden een slechte gebruikerservaring. Bedrijven proberen al jaren wachtwoorden te vervangen, maar zijn er niet in geslaagd een veilige en schaalbare oplossing te vinden. Nu is het antwoord hier, door de alomtegenwoordigheid van de mobiele telefoon te combineren met de cryptografische beveiliging van de simkaart.

tru.ID Adds Sorenson Ventures to $9m Seed Round to Scale the Mobile Cybersecurity Platform

Digital identity and possession factor APIs provide powerful new authentication tools to help companies fight the growing threat of cybercrime

LONDON & SAN FRANCISCO–(BUSINESS WIRE)– tru.ID (https://tru.id), the pioneering passwordless authentication platform leveraging SIM card cryptography, is today announcing that Sorenson Ventures joined its seed funding round, alongside Episode 1, MMC Ventures and NHN Ventures, bringing the company’s total seed stage funding to USD 9m. Sorenson provides strong US-based connections which will be valuable as the company prepares to roll out its services into the USA market.

tru.ID exists to help companies solve the $1trillion threat of cybercrime attacks on customers and employees. In today’s post-COVID hybrid world, legacy authentication methods, using passwords and PIN codes sent by email or SMS, are no longer fit for purpose – they are vulnerable to criminal attacks such as phishing and provide a poor user experience. Businesses have been trying to replace passwords for years, but have failed to find a secure and scalable solution. Now, the answer is here, combining the ubiquity of the mobile phone with the cryptographic security of the SIM card.

Paul McGuire, co-founder and CEO of tru.ID, says: “Cybercrime threatens all online businesses. The annual cost is estimated to be over $1trillion and increasing. One of the biggest vulnerabilities is the password. But finding a more secure alternative that is easy to use and widely available has proved impossible – until now. tru.ID brings a new solution that the world urgently needs: strong online security that is easy to use and already in everyone’s pocket.”

The SIM card is the same highly secure technology that is in every credit card, and there are already 5bn+ SIM cards deployed. That means every customer and every employee already has a cryptographically secure digital identity token in their pocket. tru.ID makes this revolutionary new security solution available through an API-based SaaS platform.

tru.ID is already live in 20 markets and continues to build out its network.

Rob Rueckert, Partner at Sorenson Ventures, comments: “Today, doing business online or working remotely means a constant threat of cyberattacks. Finding a solution that is effective and usable for customers and employees is an urgent and unsolved problem for businesses of every size. tru.ID brings a new and potentially transformative approach, leveraging the security & ubiquity of the SIM card through a modern, API platform. We are delighted to be backing this experienced team and to already see the significant traction they have achieved since we made our investment.”

About tru.ID

tru.ID helps businesses to reduce the threat of cybercrime by replacing passwords and PIN codes with a secure possession factor API for multifactor authentication (MFA). This revolutionary approach leverages the core cryptographic security built-in to every mobile network and is now being made available, for the first time, to businesses via API.

tru.ID uses mobile network cryptography based on the SIM card – the same highly secure technology that is already present in every credit card – to deliver strong MFA protection for Customers and Employees.

tru.ID is easy to deploy and simple to use. The service is already available in 20 markets covering over 2bn users, and is rolling out globally.

Visit our website to learn more or sign up and start testing for free at https://tru.id.

About Sorenson Ventures

Sorenson Ventures is a Silicon Valley and Utah-based, early-stage investing firm in security and enterprise software companies with more than $250 million of capital under management. Sorenson Ventures invests in product-oriented founders and helps portfolio companies establish a strong foundation to accelerate revenue growth with Global 2000 customers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220401005010/en/

Contacts

Natalie Malevsky

press@tru.ID