Axiad Holdings, a cloud-based passwordless authentication platform, has received a $20m growth investment from Invictus Growth Partners.
The RegTech has earmarked the capital to accelerate its sales and marketing efforts, as well as the development of its authentication platform.
Axiad enables a secure passwordless experience for enterprises and manages every credential’s lifecycle holistically in one place.
The Reg Tech protects over 2.5 million enterprise credentials for hundreds of global customers.
Axiad co-founder and co-CEO Yves Audebert said, “We have been bootstrapped and cash flow positive for more than ten years so taking outside capital was a big decision.
“Invictus proved to be the right partner for us, bringing not only capital but also a deep operating bench and a network to help us scale faster. We are excited to have them as partners as we continue to accelerate our vision of providing enterprises with a policy-driven, automated passwordless experience, without compromising on security.”
As part of the deal, Invictus co-founders and managing partners John DeLoche and William Nettles will join the Axiad board of directors.
DeLoche said, “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.”
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