2018 promises to be a big year for StrongAuth and StrongKey. Much more news to come over the next few weeks, but the high level is this: StrongKey and StrongAuth (our parent company) have become one company, and we have concluded our Series A round of funding for $10 million.
Here's the official announcement:
January 2, 2018
StrongAuth Announces $10 Million in Series A Funding
Strategic investment will be used to grow the existing enterprise business and launch a new security product aimed at small businesses.
StrongAuth, Inc. announced today a strategic Series A investment of US$10 million into the business. The entire investment is from Systena Corp, a Japan-based software company, through its U.S. subsidiary, Systena America, Inc.
The investment will be used to:
- ...fuel growth of StrongAuth's enterprise-focused business through expansion in Durham, NC, as well as overseas markets
- ...to launch a new product line—the StrongKey Tellaro—targeted at small and medium enterprises
- ...develop new modules for its products
Jake Kiser, CEO of StrongKey says:
"I am proud of the vision, tenacity, and desire to make the internet a safer place shared by Arshad, our team, and our technology. We are also excited for the partnership with Systena, who shares our vision of bringing security to those who need it most.
2018 will be an exhilarating year for us. On the enterprise side, we will be able to tell the StrongAuth story in a new way that will bring growth. And with the Tellaro, we are providing an unprecedented level of security to people who badly need it—and all for less than the price of their office photocopier."
Mr. Katsuhiro Fuchinoe, CEO of Systena America, comments:
"We are very pleased to be part of the StrongAuth team through this investment. We don’t doubt its continued growth, its worldwide success, and a bright future for StrongAuth, and are looking forward to working closely with them."
Arshad Noor, Founder and CTO of StrongAuth looks to the future:
"What will remain unchanged at StrongAuth are the extraordinary open-source data security solutions we create and the great customer support our customers have come to expect. We look forward to this evolution and continuing the journey through our next chapter."
Founded in 2001, StrongAuth, Inc. is a privately held company based in Silicon Valley, CA and Durham, NC. It brings open-source cyber-security solutions to the market, with government and enterprise clients on six continents. The company has solved complex data protection problems while creating some of the most innovative and affordable solutions around cryptographic key management.
Providing products and services in Symmetric Key Management, Encryption, Tokenization, PKI, and FIDO-based strong authentication, StrongAuth is focused on securing data in the areas of cloud computing, e-commerce, healthcare, finance, and sectors mandating protection of sensitive data. StrongAuth's solutions are installed at customer sites around the world and are key components of mission-critical business operations.
StrongKey is a member of the FIDO Alliance, a standards organization focused on making simpler and stronger authentication a reality on the internet.
For more information, please visit https://www.strongkey.com/
Systena operates a Solution Design Business, as part of which they develop smartphone and web applications and provide a comprehensive range of support for planning, designing, developing, and operating online businesses for smart devices. They also operate a Framework Design Business, which develops backbone and peripheral systems for financial institutions and designs and builds application platforms.
Systena engrains business abilities for selling IT-related products to corporate customers, and provides total solution services that encompass planning, design, maintenance, and user support by combining the strengths of individual business segments, including the IT service, cloud, and consumer service businesses. The IT service business engages in systems operation and help desk; the cloud business offers cloud services and provides assistance with their introduction; and the consumer service business develops and offers gaming content for smartphones.
For more information, please visit https://www.systena.co.jp/eng/business/