Averon, a San Francisco, CA-based developer of Direct Autonomous Authentication (DAA) solutions, closed an $8.3m Series A financing.
The round was led by Avalon Ventures. In conjunction with Averon’s Series A funding, Avalon Ventures partners Rich Levandov and Brady Borhmann will join Averon’s board of directors.
The company intends to use the funds to accelerate its rollout strategy.
Co-founded by Wendell Brown and Lea Tarnowski, Averon has developed Direct Autonomous Authentication (DAA), an automatic and secure mobile identity verification standard, which confirms user identity by leveraging real-time mobile network signaling and the SIM/eSIM chips already contained in mobile phones. DAA works in the background, requires no installations and no consumer involvement whatsoever, and doesn’t rely on any personally identifiable data.
Averon, which has created and holds IP protected by 15 U.S. and international patents, aims to secure mobile life across the entire digital world, including banking and ecommerce, fraud prevention, smart vehicles and homes, blockchain and IoT devices.