CertiVox takes total funding to $17m with latest backing from NTT DOCOMO Ventures and Octopus
$8m Series B round to “accelerate development” of authentication and encryption platform
London-based security authentication company CertiVox has raised $8m Series B funding from existing backers Octopus Investments, with NTT DOCOMO Ventures, the venture capital arm of Japan’s leading mobile service provider, joining the round.
The latest investment, which is NTT DOCOMO’s first in Europe, takes the encryption specialist’s total funding to $17m following seed financing and a previous Series A round led by Octopus.
Founded in 2011, CertiVox is an authentication platform which looks to protect online identities and support safer online transactions through its ‘M-Pin’ software which replaces password-based authentication without the need for third party authentication devices.
It plans to utilise the new funds to support the take-up of its ‘M-Pin’ platform and will look to expand its sales and business development, whilst driving partnerships with relevant providers, manufacturers and operators within the space.
On being NTT DOCOMO’s first European investment, CertiVox CEO, Brian Spector, said:
“NTT DOCOMO Ventures has recognised the technical innovation, uniqueness and breakthrough potential of M-Pin in solving current problems in authentication systems.
“The team at the UK Trade & Investment (UKTI) Innovation Gateway played a vital role in securing this investment, and their dedicated assistance in helping us meet potential global partners was the catalyst for our relationship with NTT DOCOMO Ventures.”
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Nobuyuki Akimoto, senior vice president and COO at NTT DOCOMO Ventures, continued:
“CertiVox’s M-Pin Strong Authentication Platform is a great and innovative platform, and ideally suited for today’s smart devices.
“CertiVox is […] a great example of the technical innovation going on in London’s Tech City.”
UKTI minister Lord Livingston also welcomed the news: “The UK is the top destination in Europe for Japanese investment and today’s deal with CertiVox is one of many high-value Japanese investments UKTI is working to attract in the fields of low carbon infrastructure, advanced engineering and information communication technologies.”