Swiss-based cybersecurity startup Futurae Technologies has raised CHF2m ($2.07m) in its latest round of funding.
The round was led by AXA Venture Partners and DIventures, with participation from Zürcher Kantonalbank and Stefan Muehlemann, founder and CEO of Loanboox.
Founded in 2016 by ETH Zurich security researchers, Futurae aims to make the authentication process easier and safer for users and companies. The company offers companies an authentication suite with AI-based authentication and regulatory-compliant products including GDPR, PSD2, HIPAA/HITECH and FSC, among others.
Futurae said it plans to use the new money to accelerate market expansion. “We see companies striving to continuously meet customers’ expectations, offer more personalised services, and improve the customer experience. IT security should not be a stumbling block but rather integrate seamlessly into the digital user journey,” said CEO Sandra Tobler.
Based in Zurich, the company offers an authentication portfolio allowing end users secure and seamless access to sensitive data. Its product ‘Zero-Touch’, offers two-factor authentication that works without any user interaction. The technology uses a machine learning algorithm to securely authenticate the user via ambient noise, ultra-sound and context information.
Futurae’ suite of solutions also includes one-touch authentication, mobile device authentication, IOT authentication, Continuous authentication, transaction signing and compliance (PSD2 and 3DSecure-v2 complaint), according to its website.
“With Futurae, we have found our first Swiss investment to join our growing portfolio. Switzerland has shown itself to be a forerunner in the deep tech scene, with ETH Zurich producing high quality cybersecurity technology for the global market,” added François Robinet, managing partner of AXA Venture Partners and member of the board of Futurae Technologies.
Earlier this year, RegTech startup Apiax, which provides a digital compliance management platform, formed a partnership with Futurae. The two technology startups are collaborating to increase the IT security of Apiax’s financial regulations platform. With the Futurae integration, Apiax said it will be offering its platform users an authentication solution that ‘fulfills the highest security requirements’ while also providing ‘unparalleled’ user-friendliness.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
