US-based cloud-based authentication services provider Duo Security obtained $30m yesterday in a series C round featuring Google Ventures, the corporate venturing arm of internet company Google.
The round was led by venture capital firm Redpoint Ventures, with Benchmark, Radar Partners and True Ventures also participating.
Duo Security offers a two-factor authentication security platform, providing the service to some 5,000 companies.
Two-factor authentication is a security feature whereby a code is sent to the user – via a smartphone app, by text message or a phone call – that they need to enter when trying to log in to a service. It is used to stop fraudulent logins.
Duo Security raised $12m in a September 2014 series B round that was led by Benchmark and that also featured Google Ventures, True Ventures and Radar Partners. Google had already participated in Duo’s $5m series A round in 2012 alongside True Ventures and Resonant Venture Partners.
True Ventures and Resonant Venture Partners previously funded a $1m seed round in 2010.
Duo plans on using the series C funding to invest in engineering, as well as to support international expansion.