SecureAuth, a start-up based in Irvine, California, closed $10 million in follow-on equity financing for its adaptive access control solutions.
SecureAuth said it achieved 70% year over year growth in 2015, which marks seven consecutive years of successive, high-double digit growth. The company has from its two-factor authentication and single-sign on (SSO) roots to its role as an adaptive authentication leader. SecureAuth IdP is currently protecting over five million users worldwide.
To date, SecureAuth has raised $40 million in equity financing.
“The trend as of late is to raise as much money as possible, with an end goal being focused more on going public than to serve customers well,” said Craig Lund, SecureAuth CEO. “We’ve gone in a contrarian direction to focus on serving the customer well as our primary focus. We do not try to boil the ocean in solving all security problems, but focus on the most critical, helping our customers determine identity with confidence. This strategy may not be a $200 million series round, but we’re here for the marathon – not the sprint. We’re not looking to be the next Good Technology.”
