Israel-based passwordless authentication specialist for enterprises Secret Double Octopus has received a strategic investment from Standard Chartered’s fintech investment arm SC Ventures.
Other corporate investors included Sony Financial Ventures, KDDI, and Global Brain.
The financial details of the deal have not been divulged.
Secret Double Octopus provides businesses with an authentication solution that removes the need for using passwords.
The solution delivers a universal user experience and cybersecurity amid workforce shifts and growing regulatory demands.
The company’s partnership with identity and access management (IAM) firms like ForgeRock and Okta adds to its products capabilities.
Currently, through a network of distributors in the US, Europe and APAC, it serves mid-size to Fortune50 customers globally.
Secret Double Octopus co-founder and CEO Raz Rafaeli said: “We are incredibly excited to have an international financial giant like Standard Chartered join us as an investor and advisor.
“This partnership demonstrates the trust our technology has gained in global organizations of the largest scale.
“SC Ventures is a beacon of fintech innovation, and we look forward to many years of collaboration delivering passwordless capabilities to the enterprise world.”
SC Ventures Alex Manson said: “The changes in the way people work and communicate today require a shift in how organizations secure their employees and clients.
“We are thrilled to partner with Secret Double Octopus as they transform enterprise authentication standards, helping organizations like ourselves better manage their cybersecurity risks, while streamlining employee workflows.”
In November last year, Standard Chartered’s fintech investment unit SC Ventures invested in AI-powered regtech Silent Eight.