Telstra Ventures, the corporate venturing unit of telecommunications company Telstra, has invested in US-based mobile identity software developer Telesign, providing $9m according to technology news site TechCrunch.
The funding boosted Telesign’s series B round to $49m, following a $40m first tranche in April led by venture capital firm Adams Street Partners, and which also featured March Capital Partners and return backer Summit Partners.
Telesign creates mobile verification codes for online accounts and is used by web and mobile companies to detect suspicious users before account creation, and to protect existing accounts from being compromised.
The company’s softwrare is currently being used on 3.5 billion accounts across more than 200 countries. Telstra will now look to roll out the technology on its own devices.
TeleSign previously raised $29m from Summit Partners in May 2012, according to an SEC filing.
Steve Jillings, TeleSign’s chief executive, said: “The Telstra investment gives us additional resources to innovate even faster and continue our global expansion as we move toward our goal of an [initial public offering].”