Axiad Holdings, Inc., a Santa Clara, Calif.-based provider of a cloud passwordless authentication platform, raised $20m in its first outside financing.
Invictus Growth Partners made the investment. Invictus Co-founders and Managing Partners, John DeLoche and William Nettles, will join Axiad’s board.
The company intends to use the fudns to accelerate sales, marketing and development of its multi-factor authentication platform.
Led by Co-CEOs Yves Audebert and Bassam Al-Khalidi, Axiad provides a multi-factor authentication platform which protects more than 2.5 million enterprise credentials for hundreds of global customers. It enables a secure passwordless experience for any authentication method adopted within the enterprise, including biometrics, PKI, Mobile MFA, YubiKeys, TPM, smart cards, and others. It manages every credential’s lifecycle holistically in one place, providing a cohesive experience for the business and its users, including privileged and non-privileged users.