Nok Nok Labs, a US-based authentication security technology provider, announced at the end of February that it had raised $16.5m series B funding from Hong Kong-based PC maker and personal technology company Lenovo Group Limited, and current venture capital investors DCM and ONSET Ventures. Together with the company’s series A financing, Nok Nok Labs has raised a total of $31.5m to date.
With this latest round of funding, Nok Nok Labs states that it “will accelerate the development and reach of the recently announced ‘NNLTM S3 authentication suite’, the first centralized platform that will enable the usage of a broad range of FIDO-ReadyTM devices.
“Our strategic work over the past year with Nok Nok Labs as a part of building the FIDO Alliance obviously had a great impact on this investment decision,” said Dennis Song, general manager of strategy technology alliance at Lenovo. “There is incredible momentum in the device market globally, and together with Nok Nok Labs, we’re driving hard to provide better authentication platforms and increased security in the computing ecosystem.”
Phillip Dunkelberger, president and CEO, Nok Nok Labs, said: “We’re very excited to be working more closely with Lenovo as a strategic partner given the rapid expansion of mobile devices and services in the Chinese market and Lenovo’s global reach.