Ubisecure, a customer identity & access management software provider and cloud identity services enabler, has landed fresh funding.
The Helsinki, Finland-based company has secured significant growth capital from Octopus Investments; however, the size of the deal has not been disclosed. In conjunction with the funding, Richard Court and Paul Davidson of Octopus Investments will join Ubisecure’s board of directors.
Driven by privacy regulation such as GDPR and PSD2, as well as digital transformation and customer experience improvement initiatives, Ubisecure provides an Identity Platform to connect customer digital identities with customer-facing SaaS and enterprise applications in the cloud and on-premise.
The platform consists of productised Customer IAM middleware and API tooling to help companies connect, manage, secure and streamline the use of customer identities. This helps reduce the efforts and cost of delivering connected, business-critical applications across all devices.
Simon Wood, CEO of Ubisecure, commented: “With the number of breaches involving personal information increasing and with GDPR going into effect on May 25, 2018, the subject of how companies handle identity data has become a particularly hot topic this year.
“Our identity platform not only protects and manages identity data, but also helps make the most of existing digital identities to create frictionless customer experience and bring about organisational efficiencies.”
Following the funding, Ubisecure will expand personnel across the Nordics and immediately establish local presence in the UK to support new customers and partners. It also plans to open a local German office later in the year.
GDPR requires that companies should allow their end users to easily switch service providers, meaning they should be able to collect their data and transfer the account information to another service. If an organisation is using separate identity silos or repositories to store user information, complying to this can be difficult. Ubisecure Identity Platform and the centralised approach in handling identity attribute data claims to help organisations achieve this task.
Another demand for GDPR is active consent, meaning users should be able to give active and informed consent on how their personal data is handled. Ubisecure’s platform makes it easy to manage centralised authorisation policies, meaning users can make sure that you send only the minimum required set of identity attributes to online services, internally or externally. Its identity platform offers a self-service interface where end users can easily access their information from a single place. The platform can also help with right for erasure, previously known as right to be forgotten.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
