PixelPin, a London, UK-based identity and cybersecurity startup, closed a £1.5m Pre-Series A funding round.
The round, which brings total funding to date to $4.5m, was led by Japan’s biggest internet financial group SBI Investment, a subsidiary of SBI Holdings (and formerly Softbank Investment), which invested £1m from the SBI AI & Blockchain Fund. An additional investment of £500k came from existing angel investors.
The company intends to use the funds to open offices in Tokyo and grow its presence in Japan and Asian markets.
Founded in 2011 by Geoff Anderson, CEO, PixelPin is an identity and cybersecurity startup, which uses image-based authentication instead of passwords.
The cloud-based platform, hosted on Microsoft Azure, replaces passwords and PINs for a highly secure, personal and user-friendly means of logging into their online accounts for banking, shopping and more. Instead of remembering a password or PIN users can select a picture and four specific points on that picture that must be selected in sequence to login to their online accounts.
The FIDO-certified company already counts TixCraft, The Growth Hub and Cashmere as customers.
It has offices in London and Cheltenham.