Authlete, a Tokyo, Japan-based company providing digital identity and API security standards, raised $4M in Series A funding.
SBI Digital Asset Holdings made the investment.
The company intends to use the funds to accelerate its global expansion, develop new products, and explore new industries in partnership with SBI DAH.
Led by Takahiko Kawasaki, Ali Adnan, et al. in 2015, Authlete offers a solution that provides essential security features for all APIs, as a software component. Service providers in all industries, from financial institutions such as banks and securities firms to media and e-commerce, can quickly and securely implement API access authorization (OAuth 2.0) and identity federation (OpenID Connect) capabilities by integrating Authlete into their services. The solution is available as a SaaS offering.
The company has many customers in the financial services sector, including the world’s largest digital bank in Brazil and the first digital bank in Japan amongst others. Authlete has also contributed to the OpenID Foundation in the United States in developing its OpenID Certification test suite, which is the de-facto standard for open banking / open finance ecosystems to validate whether banks’ API security standards are adequately implemented.
FinSMEs
06/04/2023