China-based mobile encryption technology developer Beijing Trusfort Technology has completed an RMB120m ($18.6m) series B2 round featuring a subsidiary of technology and trading firm Susquehanna International Group, 36kr reported on Monday.
The round closed in December 2017, and SIG Asia Investment was joined by private equity firm Yunfeng Capital, which led the round, as well as Dreamfly Capital and Redpoint Ventures.
Trusfort has created an authentication system for mobile phones issued by enterprises to their employees. It uses a security certificate stored on the handset, rather than depending solely on verification from the remote server.
The company’s certificate consists of more than 5,000 features encrypted from phone details such as data, installed applications or the sim card number, and can either be stored as a physical key or a string of characters.
Trusfort plans to establish a research and development department in the city of Wuhan and release additional products later this year.
SIG and Redpoint had previously invested an undisclosed amount in Trusfort in June 2017 reported by 36kr.com as being approximately $12.4m in size.