Token develops a next-generation multifactor authentication (MFA) platform built around a FIDO2-compliant biometric smart ring that eliminates passwords and blocks phishing, ransomware, and other credential-based attacks. The ring is designed for rapid deployment, allowing administrators to install company-wide in hours while end users self-provision in minutes. Unlike traditional BYOD tokens or legacy MFA products, Token’s wearable incorporates on-device biometrics and tamper resistance to close common security gaps. The product has already earned five industry awards for innovation and security, underscoring early market validation. With phishing and ransomware attacks escalating—especially as AI tools make them more sophisticated—the company is positioning its hardware-backed MFA as a critical layer of defense for enterprises. The new $30 million financing provides inventory and working-capital funding that will accelerate product development and broader market rollout. Grand Oaks Capital’s repeat backing signals confidence in Token’s technology and the sizable addressable market for phishing-proof authentication.

Total raised

$45M

Funding rounds

4

Latest round

Convertible Note

Latest activity

Apr 2023