IronVest, a biometric, account-access security firm, has secured $23m in seed funding as the company comes out of a period of stealth.
The round was led by Accomplice and saw participation from Ulysses, Joule Ventures, Our Crowd, Trust Ventures and a number of strategic investors.
According to Security Week, IronVest offers a security-first approach that uses a decentralised infrastructure to protect personal data. The company uses patent-pending, decentralised biometric fraud prevention technology to ensure only the correct person can access sensitive accounts and data during sign-in and through a session.
The company’s technology protects users’ personally identifiable information by offering ‘on-the-fly’ use of masked email addresses, phone numbers and virtual credit cards to protect user privacy and reduce the personal data footprint vulnerable to data breaches.
The new investment will be used to further expand the team, accelerate its go-to-market efforts to meet growing consumer demand.
IronVest CEO and co-founder Avi Turgeman said, “Building a security and privacy-first infrastructure that leverages decentralized biometric authentication and anonymized PII to combat rising cyberattacks and digital threats while actually reducing friction and improving the user experience for users is at the core of our mission.
“I’ve spent my entire professional life designing biometric fraud detection systems for the world’s largest financial institutions. At IronVest, we are moving beyond fraud detection and are focused on empowering individuals to get 360-degree protection from all types of fraud without relying on the online services they are using to do this for them.”
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