PALO ALTO, Calif., Dec. 9, 2014 /PRNewswire/ -- Nok Nok Labs, an innovator in modern authentication and a founding member of the FIDO Alliance, today announced the closing of $8.25 million in a Series C financing. The round includes new investors DDS Inc. and Raven Ventures, as well as current investors DCM Ventures, Lenovo Group Limited and ONSET Ventures.
This latest round of funding, which brings the total capital raised by Nok Nok Labs to $40 million, is planned to:
- Expand the business to take advantage of international opportunities, to meet growing demand in Asia Pacific.
- Add additional support capabilities for the significant pipeline growth.
- Continue Nok Nok's strategy of partnering with key regional, strategic investors.
Today, Nok Nok Labs also announced support for the FIDO 1.0 specifications with a new version of its NNLTM S3 Authentication Suite, delivering scalable, standards-based strong authentication for its customers and partners.
"The timing of this announcement, together with the FIDO 1.0 news and the release of our new S3 Suite gives us great momentum as we execute on the FIDO vision of simpler, stronger authentication," said Phillip Dunkelberger, President and CEO, Nok Nok Labs. "The addition of strategic investors in both Australia and Japan demonstrates the global nature of the problem."
Nok Nok Labs was launched in 2011 by Ramesh Kesanupalli, the visionary behind the FIDO Alliance, to transform online authentication for modern computing. The company delivers client and server software that leverages the existing security capabilities on a user's device such as a built-in fingerprint sensor, camera or Trusted Platform Module (TPM) in order to provide user-friendly, strong authentication to any application. Unlike current siloed authentication solutions, Nok Nok Labs allows organizations to support a wide range of authentication technologies from a single, unified platform.
About Nok Nok Labs
Nok Nok Labs, Inc., based in Palo Alto, CA, was founded to transform online authentication for modern computing. The company is backed by a team of security industry veterans from PGP, Netscape, Oracle, PayPal and Phoenix that have deep experience in building Internet scale security protocols and products. The company's ambition is to enable end-to-end trust across the web using authentication methods that are natural to end-users and provide strong proof of identity. For more information, visit www.noknok.com.
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SOURCE Nok Nok Labs