StrongAuth, a developer of security software tools and hardware for smaller-sized businesses with an office in Durham, is gearing up for growth in 2018 after landing $10 million in new financing.
With security threats growing worldwide as indicated by the discovery of Spectre and Meltdown, StrongAuth says it will use the cash to roll out a new product line called StrongKey Tellaro.
The company, which also operates in Silicon Valley, says the new cash means expansion for its Durham operations. StrongAuth is part of the American Underground community.
Providing all the capital is Japan-based Systenna Corp., a software firm which operates a U.S. subsidiary known as Systena America.
“On the enterprise side, we will be able to tell the StrongAuth story in a new way that will bring growth. And with the Tellaro, we are providing an unprecedented level of security to people who badly need it — and all for less than the price of their office photocopier,” said StrongAuth CEO Jake Kiser, who is based in Durham and earned his MBA at Duke University.
He noted that the funding means that the firm can “begin growing our team and operations in Durham and the greater Triangle area complements our existing presence in Silicon Valley so well. The energy around the tech scene in Durham is vibrant, and we are looking forward to joining in and pushing it forward.”
Services focus on Symmetric Key Management, Encryption, Tokenization, PKI and FIDO [fast identity online]-based strong-authentication.
StrongAuth is a member of the international FIDO Alliance, which is an industry consortium launched in February 2013 to address the lack of interoperability among strong authentication devices and the problems users face creating and remembering multiple usernames and passwords, according to Wikipedia.
