inBay Technologies, an Ottawa, Canada-based developer of ‘passwordless’ authentication solutions, secured additional $1m in the second tranche of its pre-series A raise.
The round was led by Global Alliance Inc. of Tokyo, Japan.
The company intends to use the funds to accelerate commercialization of its idQ® Trust as a Service digital identity platform.
Led by Shane Young, President & CEO, inBay Technologies delivers a secure access to enterprise services and applications. The company’s idQ® Trust as a Service (TaaS) is an innovative SaaS mutual identity assurance platform that eliminates the need for user names and passwords which enables companies of all types and sizes to employ edge multi-level, multi-factor ‘passwordless’ authentication and delegated authorization solution.