Nok Nok Labs, a Palo Alto, CA-based provider of authentication solutions, raised $16.5m in Series B funding.
Backers included Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), and current investors DCM and ONSET Ventures. In conjunction with the funding, George He, SVP and President of Ecosystem & Cloud Services Group at Lenovo, will join Nok Nok Labs’ Board of Directors.
The company, which has raised a total of $31.5M to date, intends to use the funds to accelerate the development and reach of its NNL™ S3 authentication suite, expand its sales, business development and marketing efforts, and continue to sign partnerships.
Led by Phillip Dunkelberger, President and CEO, and Ramesh Kesanupalli, Founder, Nok Nok Labs produces client and server software that leverages the existing security capabilities on a user’s device such as a built-in fingerprint sensor, camera or Trusted Platform Module (TPM) in order to provide authentication to any application. The company’s NNL™ S3 authentication suite is a centralized platform that enables the usage of a broad range of FIDO-Ready™ devices.
FinSMEs
27/02/2014
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