SecureAuth provides adaptive access control and identity-security solutions and announced a merger with Core Security to combine vulnerability discovery, identity governance and threat management. The combined company is positioned as the industry’s first identity-based security automation platform, aiming to integrate network, endpoint, vulnerability, and identity data for faster threat discovery and automated SOC response. The merger brings together over 1,500 customers, 360 employees, and a global network of locations. SecureAuth and Core Security collectively report over 50 million identities protected, monitoring activity on over 750 million devices daily, and hold more than 75 patents issued and pending. The company serves government agencies, banks, healthcare providers, telecoms and 18% of the global Fortune 1000. Management says additional capital will expand engineering, sales, and customer success teams to better serve existing customers and the market. SecureAuth develops multi-factor authentication and security software used for two-factor authentication in enterprise environments. The company is based in Irvine. In July it raised $10M in a funding led by Toba Capital. SecureAuth said the funding will help accelerate growth through expansion of sales and marketing. Toba Capital also led an earlier $4.5M funding round in September 2012. No other financial or operating metrics were provided in the article. SecureAuth’s core product is the SecureAuth Identity Enforcement Platform (IEP), which delivers integrated two‑factor authentication, SSO and identity management for cloud, on‑premise and VPN applications. The company emphasizes mutual authentication for SaaS and compliance with standards such as FFIEC, HIPAA/HITECH, PCI DSS, NCUA, FISMA and CJIS. In 2010 SecureAuth reported rapid customer adoption, including Fortune 500 clients, triple‑digit revenue‑booking growth year‑over‑year and a 300% increase in sales versus 2009; 98% of customers renewed their subscriptions. To meet demand the company expanded partner channels (contributing over 50% of revenues), opened regional offices in Dallas and Chicago, and added integrations with partners such as McAfee. Management stated the company would use recent funding to ramp up sales and marketing and to support broader access from mobile devices. The product positioning focuses on simplifying secure access while reducing risk from phishing and password attacks.

Total raised

$213M

Funding rounds

3

Latest round

Equity

Latest activity

Dec 2017