January 27, 2016 in FinTech, News from Our Companies

Authomate raises $1 million in funding round

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http://atdc.org/companies/authomate/Authomate a pioneer of next-generation authentication solutions, said it closed a $1 million round of note funding. The investment enables Authomate to continue development of its StrongPass solutions and extend its capabilities into additional areas of the enterprise.

A member of the Advanced Technology Development Center (ATDC) at Georgia Tech, Authomate is an ATDC Accelerate company.

Authomate’s StrongPass product offers a more secure, yet user-friendly online experience with just a mobile device and a single login. StrongPass securely contains credentials on each end user’s trusted mobile device, provides an easy-to-use authentication interface, and obfuscates the authentication process, directing authentication traffic away from malicious actors via a patented cloud-based process.

“Enterprises today are fighting a losing battle when it comes to their network and information security,” said Jeff Schmidt, Authomate’s president and chief executive officer. “Chief Security Officers are in the unenviable position of plugging security vulnerabilities with fragmented solutions that effectively clamp down on information access and data sharing, which hinder productivity. Authomate’s StrongPass solutions are engineered to close these security gaps and deliver strong authentication while empowering end users through improved information flows, and driving adherence through a simple, easy-to-use interface.”

In addition to driving the continued development of the StrongPass product line, the $1 million investment will also enable the company to work with enterprise across the retail, healthcare, financial services, and energy sectors that are frustrated with the current state of data security.

“Authomate has an exciting technology that will truly empower enterprises as they move towards a risk-based approach to security and authentication,” added Authomate’s chief technology officer and founder, Piyush Bhatnagar. “It’s been very rewarding to take the vision of a simple, yet highly secure, way to access our online personas from concept to deployment. This strategic investment will provide the capital the company needs to finalize the development of its solutions and solidify its abilities to support enterprise customers.”




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