Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

News

9/22/2014
11:20 AM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Duo Security Raises $12 Million in Series B Funding Led by Benchmark

New Funding Will Enable Expansion and Address the Security Challenges of Cloud and Mobile

ANN ARBOR, MICH. – September 22, 2014 – Duo Security, the leader in cloud-based two-factor authentication, today announced the company has raised $12 million in Series B funding, led by Benchmark, a leading venture capital firm in the Silicon Valley. Duo Security will leverage the funding to address the emerging security challenges faced by businesses of all shapes and sizes, who struggle to secure their users against a breach in a modern IT environment. Additional investors that participated in this funding round include Google Ventures, True Ventures and Radar Partners.

“Dug Song and Jon Oberheide are the kind of passionate and ambitious entrepreneurs Benchmark is proud to back and work alongside,” said Matt Cohler, general partner at Benchmark and Duo Security board member. “Smartphone proliferation, the shift in IT environments to the cloud, and business users’ increased expectations for consumer-grade enterprise software products give Duo Security the opportunity to lead and change the face of the security market in a post-firewall world."

In the last few years, traditional IT environments and the way users access corporate services and data has been disrupted through the rapid adoption of cloud and mobile technologies. When services hosted in the cloud are accessed by users from BYOD mobile endpoints, the ability to secure such access is both increasingly challenging and important. Malicious attackers have exploited such weaknesses, resulting in daily headlines of massive breaches across all kinds of organizations. In response, organizations have turned to two-factor authentication as an effective security technology to prevent credential theft and breach.

To date, Duo Security’s two-factor authentication service has provided the security foundation for over 5,000 organizations to protect their distributed users and distributed infrastructure. The Series B funding will fuel Duo Security’s growth and enable the company to expand its product portfolio with additional security technologies to protect user access of corporate services and data.

“We’ve always had ambitions beyond two-factor authentication to build a unified security platform that empowers the mid-market to appropriately protect themselves,” said Jon Oberheide, CTO and co-founder of Duo Security. “We’re on a mission to democratize effective security technologies for everyone, not just the Fortune 500.”

“We are incredibly excited to welcome Matt and Benchmark to the Duo Security team as we work to meet the challenges of protecting our customers’ users, devices, and services,” said Dug Song, CEO of Duo Security. “With this additional financing, we can continue to scale our sales, marketing, and product development to build a strong security solution to protect organizations worldwide.”

Duo Security is primarily based in Ann Arbor, Michigan and has recently expanded operations on the East and West coasts. For more information on Duo Security, visit https://www.duosecurity.com and follow @duosec on Twitter.

About Duo Security
Duo Security provides cloud-based two-factor authentication to more than 5,000 organizations worldwide, including Facebook, Etsy, Random House, Paramount Pictures, Box, Toyota, Yelp, and Threadless. In as little as fifteen minutes, Duo Security’s innovative and easy-to-use technology can be deployed to protect users, data, and applications from breaches, credential theft and account takeover. Try it for free at www.duosecurity.com.

About Benchmark (http://www.benchmark.com)
Benchmark’s mission is to back great entrepreneurs who are changing the world. The venture capital partnership is privileged to work alongside men and women who are taking big ideas and transforming them into successful companies. Benchmark focuses on early-stage ventures in the general areas of mobile, social and cloud computing and is comprised of five equal general partners who take a hands-on approach to every business decision. Benchmark’s current portfolio includes companies such as Cyanogen, Grubhub, Snapchat, Quip, and Zuora; exits such as Gaikai, Instagram, OpenTable, Wix, Zendesk and Zillow; and market leaders including eBay, Uber, Twitter, and Yelp. Benchmark has offices in Woodside and San Francisco. For more information, please visit www.benchmark.com.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 6/1/2020
Stay-at-Home Orders Coincide With Massive DNS Surge
Robert Lemos, Contributing Writer,  5/27/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: It's the latest version of antivirus.
Current Issue
How Cybersecurity Incident Response Programs Work (and Why Some Don't)
This Tech Digest takes a look at the vital role cybersecurity incident response (IR) plays in managing cyber-risk within organizations. Download the Tech Digest today to find out how well-planned IR programs can detect intrusions, contain breaches, and help an organization restore normal operations.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-13775
PUBLISHED: 2020-06-02
ZNC before 1.8.1-rc1 allows attackers to trigger an application crash (with a NULL pointer dereference) if echo-message is not enabled and there is no network.
CVE-2020-12607
PUBLISHED: 2020-06-02
An issue was discovered in fastecdsa before 2.1.2. When using the NIST P-256 curve in the ECDSA implementation, the point at infinity is mishandled. This means that for an extreme value in k and s^-1, the signature verification fails even if the signature is correct. This behavior is not solely a us...
CVE-2020-13764
PUBLISHED: 2020-06-02
common.php in the Gravity Forms plugin before 2.4.9 for WordPress can leak hashed passwords because user_pass is not considered a special case for a $current_user->get($property) call.
CVE-2020-13760
PUBLISHED: 2020-06-02
In Joomla! before 3.9.19, missing token checks in com_postinstall lead to CSRF.
CVE-2020-13761
PUBLISHED: 2020-06-02
In Joomla! before 3.9.19, lack of input validation in the heading tag option of the "Articles - Newsflash" and "Articles - Categories" modules allows XSS.