Nok Nok Labs gathers USD 16.5 million in Series B funding

Thursday 6 March 2014 00:12 CET | News

Nok Nok Labs, a provider of authentication technology, has raised USD 16.5 million in Series B funding from Lenovo and current investors DCM, a venture capital startup, and ONSET Ventures, a provider of start-up, follow-on and intellectual capital to entrepreneurs and early-stage technology ventures.

George He, president of Ecosystem & Cloud Services Group at Lenovo, will join the Nok Nok Labs Board of Directors. Both Lenovo and Nok Nok Labs are founding members of the FIDO (Fast IDentity Online Alliance).

Nok Nok Labs will use the investment for the development of NNL S3 authentication suite, a centralized platform that will enable the usage of a broad range of FIDO-Ready devices. The company will also expand its sales, business development and marketing efforts, and continue to drive partnerships through the device ecosystems following the recently announced Trustonic and Synaptics partnerships. Along with the companys Series A financing, Nok Nok Labs has raised a total of USD 31.5 million so far.

Ramesh Kesanupalli, the mastermind behind the FIDO Alliance and founder of Nok Nok Labs, launched the company with a management team of industry experts in 2011 to implement online authentication for modern computing. The company produces client and server software that leverages the existing security capabilities on a users device such as a built-in fingerprint sensor, camera or Trusted Platform Module in order to provide authentication to any application. Nok Nok Labs allows organizations to support a wide range of authentication technologies from an integrated platform.

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Keywords: Nok Nok Labs, Series B funding, authentication technology, Fast IDentity Online Alliance
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime