SecureKey Technologies lands $30M in growth funding

SecureKey Technologies Inc., an online authentication company based in Toronto Canada, has raised $30M in growth capital to fund the commercial rollout of its innovative online and mobile authentication solutions. The financing, which was led by Intel Capital, the global investment organization of Intel Corporation, will enable SecureKey to expand its development of convenient and secure touch-to-pay instant checkout and strong mutual authentication to a wide variety of devices, applications, and markets. New investors participating in the round were Visa Inc., MasterCard, Discover Financial Services, Rogers Venture Partners LLC, an early-stage funding source backed by Rogers Communications Inc., and TELUS Corporation.greg wolfond

“We are thrilled to have attracted a team of world-class strategic investors who believe in our solutions and technology,” said Greg Wolfond, CEO of SecureKey Technologies Inc.  “SecureKey allows consumers and businesses to use real-world payment and identity credentials with their computers and mobile phones to enhance online security and payments in a simple and convenient manner.  Our collaboration efforts are an important part of being able to expand into a wide variety of devices, applications, and markets.”

Financial institutions, healthcare providers, telecoms, and government organizations are using SecureKey today to provide two-factor and federated authentication and identity solutions.

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“The serious risks of privacy violations, fraud and financial theft have significantly increased as more services requiring secure transactions are offered online,” said David Flanagan, managing director, Intel Capital. “SecureKey’s next-generation authentication solutions address these risks by enhancing the security and convenience of m- and e-commerce, thereby helping to provide secure access to critical services such as online banking, e-health and e-government.”

SecureKey provides an innovative platform-as-a-service for authentication, payment and identity, enabling partners to deliver scalable, easy to use solutions with the security of chip-based identity and payment credentials  By embedding its technology in a variety of device platforms, laptops, tablets, and mobile phones, SecureKey can enable ‘tap/click to pay’ and ‘tap/click to authenticate’ capabilities, and provide secure proxies to stored credentials in device or cloud-based digital wallets.

Recently SecureKey worked with Intel and MasterCard to embed PayPass™ technology onto Intel® IPT devices including Intel’s recently launched Ultrabooks and will be deploying its solutions in Intel® Identity Protection Technology (IPT) beginning on Ultrabook devices later in 2012.  SecureKey also recently launched a new authentication service for the Government of Canada that allows Canadians to use their bank authentication credentials to obtain access to online government services.

 

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