Nok Nok Labs, a Palo Alto, CA-based authentication platform provider, completed the second and final closing of $8M in its Series C Financing, raising a total of $16.25M.
This total amount includes the existing $8.25M raised in December 2014.
Backers included new strategic investors DaouKiwoom Group from South Korea; DOCOMO Capital from Japan; and Thundersoft from China and current investors DCM Ventures, Lenovo Group, ONSET Ventures and Raven Ventures and related affiliates. In conjunction with the funding, Mr. Ik-Rae Kim, the Founder and Executive Chairman of the DaouKiwoom Group, will join Nok Nok Labs’ Board of Directors.
The company intends to use the funds to:
expand sales, support and channel infrastructure to support customers;
facilitate global opportunities mainly in the Asia Pacific (APAC) region; and
continue technology innovation around and beyond the FIDO specifications.
Launched in 2011 by Ramesh Kesanupalli, Nok Nok Labs delivers client and server software solutions that leverage 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 user-friendly, strong authentication to any application.
The company is a founding member of the FIDO Alliance with customers and partners including NTT DOCOMO, PayPal, AliPay, Samsung and Lenovo.