Israel-based identity verification technology provider Secret Double Octopus completed a $15m series B round yesterday that included telecommunications firm KDDI, mass media group Liberty Media and consumer electronics producer Sony.
The corporates were joined by Global Brain, Jerusalem Venture Partners (JVP), Benhamou Global Ventures (BGV), Iris Capital and private investor Yaniv Tal, while Sony participated through subsidiary Sony Financial Ventures.
Founded in 2015, Secret Double Octopus provides identity verification technology that enables organisations to avoid user passwords in favour of multi-factor authentication.
The company’s system combines push notifications with biometric identifiers authorised by a sensor on a user’s mobile device, and works across workstations, networks and remote systems.
Raz Rafaeli, co-founder and chief executive of Secret Double Octopus, said: “This investment is further proof of the market need for our innovative product.
“It is now more important than ever to implement simple, fast solutions like ours that bolster security while simultaneously increasing employee productivity by eliminating the hassle and costs associated with password management.”
Liberty Media’s Israel Venture Fund had previously joined JVP, Iris Capital, BGP and Yaniv Tal in the company’s $6m series A round in 2017, the year after it raised $1.5m in seed capital from investors including JVP.
