American Express Ventures has exited US-based mobile device authentication technology developer InAuth through an acquisition of undisclosed size by its parent company, payment services firm American Express.
Founded in 2011, InAuth provides an authentication system for mobile devices that includes device identification, risk detection and analysis.
American Express, which is already an InAuth customer, will add the company’s technology to its existing data analytics and fraud prevention offering. It already supplies InAuth’s services to customers through its Accertify subsidiary.
American Express Ventures was only revealed as an investor in the company by the press release announcing the acquisition.
Bain Capital Ventures led InAuth’s $23.5m series A round in March 2015, and a regulatory filing indicates American Express Ventures likely invested about $6.4m in February 2016.
Anré Williams, president of American Express’s Global Merchant Services & Loyalty Group, said: “We are acquiring the right company at the right time to evolve our leadership position in fraud management and security.
“This acquisition, along with Accertify and other significant investments we have made in data analytics and technology, will help us continue to offer security and protection to our merchants and partners as mobile and online spending drive commerce.”