Axiad Holdings, Inc. (“Axiad”), a leading cloud-based passwordless authentication platform, announced today that it has raised its first outside financing with a $20 million growth round from Invictus Growth Partners (“Invictus”). The proceeds of the financing will be used to accelerate sales, marketing and development of its cutting edge multi-factor authentication platform, which protects more than 2.5 million enterprise credentials for hundreds of global customers. Invictus Co-founders and Managing Partners, John DeLoche and William Nettles, will join Axiad’s board.
“We have been bootstrapped and cash flow positive for more than 10 years, so taking outside capital was a big decision,” said Yves Audebert, Co-founder and Co-CEO of Axiad. “Invictus proved to be the right partner for us, bringing not only capital but also a deep operating bench and a network to help us scale faster. We are excited to have them as partners as we continue to accelerate our vision of providing enterprises with a policy-driven, automated passwordless experience, without compromising on security.”
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Axiad enables the most secure and simple passwordless experience for any authentication method adopted within the enterprise, including biometrics, PKI, Mobile MFA, YubiKeys, TPM, smart cards, and others.
Axiad’s cloud platform manages every credential’s lifecycle holistically in one place, providing a cohesive experience for the business and its users, including privileged and non-privileged users. Axiad secures all digital interactions for both users and machines no matter where they are, a necessity for enterprises as the traditional security perimeters disappear. Axiad’s platform adapts to enterprises’ evolving security needs, accelerating and simplifying the path towards passwordless.
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