Token bags $13m in Series B funding

Token, a wearable authentication solutions provider, has raised $13m in a Series B funding round.  

The round was led by Grand Oaks Capital. To date, Token has raised $22.9m since it was founded.

Founded in 2014, Token provides a smart ring as a hardware authenticator. The Token Ring features FIDO2 support and can be paired with a user’s phone using the Token Ring App.

The device provides passwordless, biometric authentication courtesy of an integrated fingerprint sensor and relies on NFC technology to validate proximity and mitigate remote attacks.

According to Security Week, the investment round will allow Token to speed up product development and to increase demand for its technology.

Trinsic, an infrastructure for building user-controlled identity products, has raised $8.5m in a seed round.

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