Authy, a global leader in advanced cloud service authentication, announces the completion of $3 million in financing and expansion of its executive management team with the addition of Marc Boroditsky as President and COO, who until now has been a consultant to the company. In this new role, the company is responsible for running operations and driving global go-to-market activities, as the company focuses on transformative growth.
With more than 20 years of senior management experience, Marc has founded and led three security and health information start-ups, including Passlogix, a recognized single sign-on leader with more than 1,600 global enterprise customers. Used by more than 25 million users, Passlogix solutions eliminated the number of passwords needed by the user-often 10 or more reduced to just one. He has been a long-standing consultant and investor in more than a dozen high-tech companies and, most recently, Vice President of Identity and Access Management at Oracle, following the successful acquisition and integration of Passlogix.
‘We are incredibly lucky to add an experienced and talented leader like Marc to our team. Marc brings a wealth of knowledge to help Authy meet the growing needs of our customers and partners around the world,” said Daniel Palacio, founder and CEO of Authy. ‘With Marc on the team and our recent funding, we’re very well positioned to accelerate momentum. ”
In July Authy received an enormous response from AngelList. Com resulting in the completion of a larger than expected funding round The listing resulted in a multiple commitment of the amount requested and the company accepted investment from a number of prominent Silicon Valley investors.
Authy provides a global SaaS-enabled authentication service that uses a second factor on any type of device-smartphone, tablet, laptop or PC. The service is used by thousands of online applications and services, such as banks, Bitcoin providers, e-commerce and other leading online services, to protect them and their users from theft and fraud of accounts.
‘Authy is leading the way for users to replace passwords for all types of online applications,’ Marc said. ‘The use of their two-factor authentication solution has increased by an impressive 110% over the last six months. Daniel and his team have come up with a powerful yet simple solution, and it’s no surprise that they’ve produced an impressive traction with category-leading customers. ”
Marc will work with Daniel to build a strong management team and expand on the market to deliver on their shared vision to replace passwords for all online applications and services.
In order to respond to Authy’s dynamic growth, the company also announced that it is expanding its San Francisco headquarters. The new offices provide an opportunity for the company to accelerate its growth and launch a global expansion strategy while maintaining its roots in this dynamic high-tech city.
In addition, Authy announced the expansion of its product development center in Bogota, Colombia, to bring solutions to the market more quickly and to meet the ever-changing needs of customers and partners.
Founded in 2011 by CEO Daniel Palacio, Authy had one goal: to make Two-Factor Authentication easy and accessible to all. Authy provides a simple, robust mobile application that consumers can use to protect their digital lives, as well as an API for developers to add powerful Two-Factor Authentication to their websites and applications. Backed by an impressive array of investors, such as YCombinator, IdeaLab and Salesforce. Com, StartFund, CrunchFund, Digital Garage and many respected angel investors, the company’s solution is used by thousands of leading global online companies, including Coinbase, MercadoLibre, Cloudflare and Twitch. For more information on Authy, please visit us at http://www Authenticity Come and follow us on Twitter @authy
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