Device Authority, a global leader in identity and access management for Enterprise IoT ecosystems, has recently bolstered its financial backing with an additional $2m investment from Prelude, the venture practice of Mercato Partners.
This US-based venture capital firm is renowned for its focus on high-growth cyber technology companies and has identified Device Authority as a prime candidate for investment, owing to its robust team, innovative SaaS KeyScaler platform, and the platform’s ability to deliver zero trust for IoT across expanding use cases that address real market needs.
The company specialises in ensuring the security and management of digital identities and access within the Internet of Things (IoT) ecosystem. Its SaaS KeyScaler platform plays a pivotal role in this domain by providing essential zero-trust security measures for IoT devices.
The new funding is earmarked for advancing Device Authority’s KeyScaler platform and expanding its North American presence.
Device Authority aims to leverage this capital to further refine its technology and solidify its standing as a leader in the field of IoT identity and access management.
Device Authority CEO Darron Antill expressed his enthusiasm about the investment and the company’s trajectory, stating, “As a company that is immersed in the connected world and sees the latest use cases being deployed by our customers all over the world, we are acutely aware of how important it is to ensure complete trust in the devices and data being used.
“Our KSaaS cloud service and KeyScaler platform has already been recognised as the ‘Rising Azure Technology’ in Microsoft’s Partner of The Year Awards and by analysts who have identified Device Authority as the technological leader in its field. We are delighted that Prelude has joined our recent financing with Ten Eleven Ventures to also support our ongoing growth journey as we continue to advance our solution and grow our presence in North America.”
Davis Warnock from Mercato Partners: Prelude also commented on the investment, “We have been familiar with the Device Authority product and team for quite some time, and we are thrilled about the opportunity to invest in their future growth. In our view, this company stands out as the preeminent leader in Identity and Access Management for enterprise IoT.”
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