In a round led by Blue Sky Capital and Rogers Venture Partners, Toronto-based authentication specialist SecureKey has raised $19 million in new funding. The Series C investment brings SecureKey’s total capital to more than $70 million.
SecureKey also announced the appointment of Didier Serra to Executive Vice President. Serra will lead the company’s consolidated sales and marketing team.
Charles Walton, SecureKey CEO said that the funding will play a key role in helping the company grow “as people, governments, and organizations worldwide embrace a future that removes the burden of passwords” while preserving both convenience and choice for consumers.
Blue Sky Capital’s Greg Wolfond echoed the importance of balance between convenience and privacy. Wolfond suggested that the path to new data-enabling and critical online services is paved with the ability of companies like SecureKey to provide secure authentication.
“Today’s consumers need and expect convenient access to the online services they use most, without sacrificing the critical security of their personal information,” Wolfond said.
Above: SecureKey Vice President for Partner Engagement Chris Gardner demoing at FinovateFall 2010 in New York
SecureKey’s primary product line includes briidge.net Exchange and briidge.net Connect. The Exchange can be used to establish “identity ecosystems” that make online enrollment easier without compromising user privacy. Account opening, age verification, and health information exchange are a few of the ways the exchange serves its users. With Connect, SecureKey provides cloud-based, multi-factor authentication protection using device-based digital IDs.
Founded in 2008, SecureKey is headquartered in Toronto, Ontario, Canada, and has offices in Boston, San Francisco, and Washington, D.C. The company recently made headlines by earning a spot in KPMG’s “50 Best Fintech Innovators Report” and announcing a partnership with Oberhur Technologies to provide security for a wide range of cloud-based transactions including online banking, online payments, and eCommerce.
SecureKey demoed its technology at FinovateFall 2010 in New York, winning Best of Show honors.