tru.ID, the pioneering passwordless authentication platform leveraging SIM card cryptography, announced that Sorenson Ventures joined its seed funding round, alongside Episode 1, MMC Ventures, and NHN Ventures, bringing the company's total seed-stage funding to $9 million.
Sorenson provides strong US-based connections which will be valuable as the company prepares to roll out its services in the USA market.
Round: Seed Round
Funding Month: April 2022
Lead Investors: Sorenson Ventures
Additional Investors: Episode 1, MMC Ventures and NHN Ventures
Company Website: https://tru.id/
Software Category: passwordless authentication platform
About the Company: tru.ID pioneering passwordless authentication platform leveraging SIM card cryptography helps businesses to reduce the threat of cybercrime by replacing passwords and PIN codes with a secure possession factor API for multifactor authentication (MFA). tru.ID uses mobile network cryptography based on the SIM card the same highly secure technology that is already present in every credit card to deliver strong MFA protection for Customers and Employees. tru.ID is easy to deploy and simple to use. The service is already available in 20 markets covering over 2bn users and is rolling out globally. tru.ID makes this revolutionary new security solution available through an API-based SaaS platform.