Startup Acceptto launches biometric and contextual multi-factor authentication platform
Cybersecurity startup Acceptto has emerged from stealth to launch its password-less Cognitive Authentication platform for authentication and identity access management (AIM), according to a company announcement. Acceptto also announced it has raised an unspecified amount of capital in a Series A funding round.
Acceptto says Cognitive Authentication is powered by artificial intelligence machine learning, along with expert systems and behavioral modeling to mitigate identity impersonation and access fraud while reducing friction. It leverages the company’s eGuardian engine to drive the convergence of physical identity and digital user profile to create a resilient and immutable identity, according to the announcement.
eGuardian integrates facial, fingerprint, iris, palm, or voice biometrics into the platform’s contextual analytics engine, where it is combined with device and browser fingerprints (DBFP), continuous user behavior, spatiotemporal velocity and third-party data fusion to create what Acceptto CEO Shahrokh Shahidzadeh calls a “Biobehavioral Derived Credential,” which he says is virtually impossible to spoof or tamper with. The credential is then used with the included It’sMe single sign-on (SSO) solution for web, mobile, and enterprise applications.
The funding rounds was co-led by Aetna Ventures, Millennium Technology Value Partners, and Celeres Capital. As part of the funding round, Aetna Chief Security Officer James M. Routh has joined Acceptto’s Board of Directors.
“We are excited about collaborating with Aetna, Millennium and Celeres,” says Shahidzadeh. “Having Aetna not only as an early adopter customer, but also a strategic investor is a privilege. We are committed to continuing our work with these organizations to deliver state-of-the-art technology that drives paradigm shifts in cyber security. That is what our researchers and developers are working on with key partners and customers to drive a paradigm shift that is needed.”
“Advanced authentication today enables a continuous model with attributes feeding a risk engine rather than authentication as an event with binary authentication” said Routh, Chief Security Officer of Aetna and Chair of Health Information Sharing & Analysis Center (H-ISAC).
The market for identity and access management in the U.S. alone is expected to reach $18.9 billion by 2024.