![]() ![]() ![]() “Trusona’s unique approach complements what Akamai does to register and manage customer identities, allowing our customers to offer great online experiences while reducing fraud and achieving compliance with growing regulatory requirements. “We are seeing increasing demand for passwordless authentication because of how it simplifies and improves the user login experience,” said Rick McConnell, president and general manager of Akamai’s web division. Trusona said it’s seeing “unprecedented demand” from enterprises seeking passwordless login technologies, which was also evident in the strategic investment made by Akamai, a U.S.-based content delivery network (CDN), edge platform provider, and cybersecurity company. Similarly, Gartner predicts that by 2022, 60% of large and global enterprises, and 90% of midsize enterprises, will deploy passwordless verification methods such as biometric authentication “in more than 50% of use cases” - up from 5% in 2018. But Grand View estimates that the figure will rise to more than $2 billion by 2025. Global demand for password management solutions in mobile devices amounted to less than $115 million in 2016, according to a report from Grand View Research. Elsewhere, Mozilla launched its Firefox Lockbox service for Android users, enabling them to log into native mobile apps using passwords that are already stored in their Firefox browser, while VPN giant NordVPN launched a password management app of its very own. Automation Anywhere raises 290 million funding led by Salesforce Ventures. Shortly before that, rival Dashlane raised $110 million. A few months back, popular password management service 1Password raised $200 million in the first round of funding in its 14-year history. The development of passwordless authentication solutions is accelerating rapidly, with researchers anticipating that it will increase from a value of 12.8 billion in 2021 to reach a value of 53. Judging by recent activity, password management - which effectively moves passwords to the background of the authentication process - is big business. “This round of funding will not only help us meet the growth in demand for our passwordless authentication solutions but will also support new breakthrough innovations,” Eisen added. With another $20 million in the bank, the company said it plans to work on new products and expand its existing services to new businesses. Secure access to any app or resource, from anywhere, with an identity-centric security service edge (SSE) solution. The new company will operate under the temporary name ThycoticCentrify, with a new brand expected to be announced in the second half of 2021.Trusona had previously raised around $18 million, including a $10 million funding tranche that was led by Microsoft’s VC arm back in 2017. This Acquisition is a big win for 1Password. The goal is to create a major cloud identity security vendor. Millions of people worldwide use this app to ensure that every single online account they have is protected and secured with unique, strong, and secure passwords. Private equity company TPG Capital has completed the merger of identity security solutions provider Thycotic with privileged access management company Centrify. 1Password Business customers can also create security policies and custom rules, monitor sign-in attempts, and generate. Password managers like 1Password reduce the risk of security incidents by making it easy for your employees to generate, store, and autofill strong passwords. The goal is to create a machine identity management platform that provides “flexible and highly scalable certificate issuance and automated deployment of machine identities across complex enterprise and emerging IoT and OT use cases.” The companies also announced raising $125 million in a growth round. Weak and reused passwords are a leading cause of data breaches. PKI-as-a-service and crypto-agility solutions provider Keyfactor is merging with PKI and signing solutions provider PrimeKey under the Keyfactor brand. The deal is part of AdEPT’s plan to grow and provide enhanced capabilities to customers. Both companies are based in the UK and AdEPT paid £9.0 million ($12.5 million) in cash for Datrix. Managed services provider AdEPT announced buying Datrix, a company that provides networking, communications, and cybersecurity solutions. Through its acquisition of SecretHub, 1Password aims to provide solutions designed to help enterprises secure not only human passwords, but also infrastructure and machine-to-machine secrets. Cybersecurity M&A Roundup for April 12-18, 2021Įnterprise password management firm 1Password completed the acquisition of SecretHub, a company that specializes in secrets management solutions.
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