The Authoriti Network, a NYC-based provider of solutions to prevent identity theft and misuse of consumer data, raised $1.5m in seed funding.
The round was led by Dot Capital with participation from its affiliates. In conjunction with the funding, Joseph R. Saviano, Founder & Managing Partner of Dot Capital, will join the Board of Directors.
The company intends to use the funds for new hires in sales and product development.
Led by Michael Cutlip, President & CEO, Authoriti provides solutions to prevent identity theft, fraud, and misuse of consumer information. Its patent-pending Permission Code® smart PIN allows customers to authorize institutions to execute transactions on their behalf, maintaining control through multi-factor authorization.
The company’s founding team includes Lou Steinberg, Marv Adams, and Larry Bettino.