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

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join this webinar to learn best practices that organizations can use to improve both their resilience to new threats and their response times to incidents.

Register

Join this live webinar as we explore the potential security threats that can arise when third parties are granted access to a sensitive data or systems.

Register

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

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...

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Identity & Access

Zero trust is not a replacement for identity and access management (IAM), but is the extension of IAM principles from people to everyone and...

Funding/M&A

More than 450 cybersecurity-related mergers and acquisitions were announced in 2022, according to an analysis conducted by SecurityWeek

Funding/M&A

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

Management & Strategy

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

Funding/M&A

Forty cybersecurity-related M&A deals were announced in January 2023.