Axiad passwordless enterprise platform with biometrics support draws $20M investment

Axiad Holdings has picked up a $20 million investment from Invictus Growth Partners to accelerate the growth of its platform for passwordless authentication through biometrics and other factors.

The multi-factor authentication platform from Axiad is currently used by hundreds of global customers to protect more than 2.5 million enterprise credentials. The company says its platform enables any enterprise authentication method, including biometrics, public key infrastructure, physical tokens and smart cards, to provide a simple and secure passwordless experience. Full credential lifecycles are managed by Axiad’s cloud platform.

Axiad Co-founder and Co-CEO Yves Audebert says the company has been bootstrapped and cash-positive for more than 10 years, and partnering with Invictus brings a “deep operating bench” and extensive network that can help Axiad scale quickly, in addition to providing capital.

“At a time when secure digital interactions are more important than ever, Axiad’s innovative platform addresses the pain points enterprises face with adopting and managing multiple credentials, providing a seamless experience for all users and use cases,” said Invictus Co-founder and Managing Partner John DeLoche. “We are honored to partner with Axiad on their mission to become the standard for passwordless authentication.”

“Axiad has been a leader in multi-factor authentication and credential management for more than a decade and their platform protects many of the world’s leading enterprise, financial services, healthcare and government customers,” said Invictus Co-founder and Managing Partner William Nettles. “We are thrilled to partner with them on their mission.”

DeLoche and Nettles will both join Axiad’s board of directors.

Article Topics

access management  |  Axiad  |  biometrics  |  credentials  |  enterprise  |  identity management  |  investment  |  multifactor authentication