Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

Authentication Provider LoginID Raises $6 Million in Seed Funding

FIDO-certified multi-factor authentication provider LoginID this week announced that it raised $6 million in seed funding.

FIDO-certified multi-factor authentication provider LoginID this week announced that it raised $6 million in seed funding.

Founded in 2019 and based in San Mateo, California, LoginID provides identity protection and control over personal information, helping companies add FIDO-certified biometrics to websites and applications, including ecommerce and banking sites.

According to LoginID, its APIs and SDKs enable enterprises to integrate FIDO-certified authentication within minutes. LoginID recently received FIDO UAF 1.1 server certification, and is also iOS and Android certified.

LoginID says it plans to use the infusion of cash to accelerate adoption of passwordless authentication.

The seed funding round was led by fintech entrepreneurs Damien Balsan (LoopPay and Mobeewave), Fabrice Grinda from FJ Labs (Zingy), George Wallner (Hypercom, LoopPay), Will Wang Graylin (Roam, LoopPay, OVLoop, Indigo), and also saw participation from Asli RI, one of the largest KYC providers in Indonesia, and Leonis Investment.

“FJ Labs invests in powerful, big ideas that scale,” said FJ Labs’ Grinda. “I was struck by the simplicity of LoginIDs integration capability, for what can typically be a complex, laborious process. The market potential for deploying a fully certified FIDO API in the financial industry and its potential to disrupt current non-compliant authentication is significant.”

Related: Software Development Security Firm Argon Emerges From Stealth Mode

Related: Pathlock Raises $20 Million to Grow Data Access Control Platform

Related: OwnBackup Achieves ‘Unicorn’ Status With $167.5 Million Funding Round

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

Click to comment

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

Identity & Access

Hackers rarely hack in anymore. They log in using stolen, weak, default, or otherwise compromised credentials. That’s why it’s so critical to break the...

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

Funding/M&A

Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Management & Strategy

Microsoft making a multiyear, multibillion dollar investment in the artificial intelligence startup OpenAI, maker of ChatGPT and other tools.