Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

WhatsApp Co-founder Invests $50 Million in Signal

Open Whisper Systems, the organization behind the privacy-focused messaging app Signal, announced on Wednesday the launch of the Signal Foundation, with an initial investment of $50 million from WhatsApp co-founder Brian Acton.

Open Whisper Systems, the organization behind the privacy-focused messaging app Signal, announced on Wednesday the launch of the Signal Foundation, with an initial investment of $50 million from WhatsApp co-founder Brian Acton.

The Signal service is used by millions of people and the Signal protocol is used by billions through its integration into popular applications such as WhatsApp, Facebook Messenger and Google Allo.

Despite the success of its product, the Signal team has never had more than seven members and there have only been an average of 2.3 full-time developers.Signal Foundation launches with $50 million investment

With the launch of the Signal Foundation and the $50 million from Acton, Signal will have the resources necessary to expand and accelerate its mission to make private communications accessible to everyone.

“Starting with an initial $50,000,000 in funding, we can now increase the size of our team, our capacity, and our ambitions. This means reduced uncertainty on the path to sustainability, and the strengthening of our long-term goals and values,” said Moxie Marlinspike, founder of Open Whisper Systems and CEO of the Signal Foundation. “Perhaps most significantly, the addition of Brian brings an incredibly talented engineer and visionary with decades of experience building successful products to our team.”

The Signal Foundation is a 501(c)(3) nonprofit organization. Up until now, the Freedom of the Press Foundation acted as a fiscal sponsor for Signal.

Acton, who left WhatsApp and Facebook last year, will serve as executive chairman of the Signal Foundation and will be actively involved in operations and product development.

“After over 20 years of working for some of the largest technology companies in the world, I couldn’t be more excited for this opportunity to build an organization at the intersection of technology and the nonprofit world,” said Acton.

“In the immediate future we are focused on adding to our talented-but-small team and improving Signal Messenger. Our long-term vision is for the Signal Foundation to provide multiple offerings that align with our core mission,” he added.

Advertisement. Scroll to continue reading.

Related: “Signal” Uses Domain Fronting to Bypass Censorship

Related: Standalone Signal Desktop Messaging App Released

Related: Signal Announces Private Contact Discovery

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Click to comment

Trending

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 the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

People on the Move

Former DoD CISO Jack Wilmer has been named CEO of defensive and offensive cyber solutions provider SIXGEN.

Certificate lifecycle management firm Sectigo has hired Jason Scott as its CISO.

The State of Vermont has appointed John Toney as the state’s new CISO.

More People On The Move

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.

Cybersecurity Funding

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

CISO Strategy

SecurityWeek spoke with more than 300 cybersecurity experts to see what is bubbling beneath the surface, and examine how those evolving threats will present...

CISO Conversations

Joanna Burkey, CISO at HP, and Kevin Cross, CISO at Dell, discuss how the role of a CISO is different for a multinational corporation...

CISO Conversations

In this issue of CISO Conversations we talk to two CISOs about solving the CISO/CIO conflict by combining the roles under one person.

CISO Strategy

Security professionals understand the need for resilience in their company’s security posture, but often fail to build their own psychological resilience to stress.

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.