Duo Security, a provider of cloud-based two-factor authentication, has raised $12 million in Series B funding, led by Silicon Valley-based venture capital firm Benchmark. The cloud security solutions provider will leverage the additional financing to continue to scale their sales, marketing, and product development.
When services hosted in the cloud are accessed by users from mobile endpoints (BYOD), the ability to secure such access is both increasingly challenging and important. Two-factor authentication is a cloud security technology to prevent credential theft and breach.
As a provider of cloud-based two-factor authentication, Duo Security has been delivering its services to more than 5,000 organizations worldwide, including Facebook, Etsy, Random House, Paramount Pictures, Box, Toyota, and Yelp. In as little as fifteen minutes, Duo Security’s ‘easy-to-use’ technology can be deployed to protect users, data, and applications from breaches, credential theft and account takeover.
Beyond two-factor authentication
The Series B funding will fuel Duo Security’s growth and enable the company to expand its product portfolio with additional security technologies to protect user access of corporate services and data.
“We’ve always had ambitions beyond two-factor authentication to build a unified security platform that empowers the mid-market to appropriately protect themselves,” said Jon Oberheide, CTO and co-founder of Duo Security. “We’re on a mission to democratize effective security technologies for everyone, not just the Fortune 500.”
Additional investors that participated in this funding round include Google Ventures, True Ventures and Radar Partners.
“With this additional financing, we can continue to scale our sales, marketing, and product development to build a strong security solution to protect organizations worldwide,” said Dug Song, CEO of Duo Security.
Duo Security is primarily based in Ann Arbor, Michigan and has recently expanded operations on the East and West coasts.