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.

Endpoint

12/8/2020
10:35 AM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Beyond Identity Raises $75 Million

NEW YORK, Dec. 08, 2020 (GLOBE NEWSWIRE) -- Beyond Identity today announced a $75 million Series B round, funded by existing investors and bringing total investment in the company to $105 million. Investors in the company include New Enterprise Associates (NEA), Jim Clark, and Koch Disruptive Technologies, LLC (KDT). The company will use the proceeds to fuel further innovation of its industry-leading, advanced passwordless identity platform and to build a global footprint, including the acceleration of distribution channels, OEM partners, and international sales and support.

Launched in April 2020 by Silicon Valley icons Jim Clark and Thomas (TJ) Jermoluk, customers have been attracted by the company’s secure, scalable, and frictionless passwordless authentication, but what has really gotten their attention is the platform’s advanced architecture and ability to incorporate granular endpoint security data into a continuous risk policy-based authentication model. The company is currently supporting customers whose workforce counts range in size from less than a hundred, to hundreds of thousands of employees and is attracting businesses that are working to deploy its advanced identity platform to tens of millions of their end-user customers.

“The past seven months have been a challenging time and have forced organizations to rapidly adjust to supporting fully remote workforces, a change that will be largely permanent,” said Forest Baskett, General Partner at NEA. “The industry was moving incrementally in the direction of passwordless approaches, but Beyond Identity’s innovation leapfrogged all others with an elegant architecture and powerful solution. As investors, the opportunity to ride that wave with the leadership team they have assembled was simply too hard to ignore.”

Unlike previously available solutions like two-factor/multi-factor authentication (2FA/MFA) or password managers (which attempted to increase security but also greatly increased user friction), Beyond Identity’s advanced passwordless identity platform increases both usability and security, lowering cost and complexity while removing friction for users. The company has continued to rapidly extend its coverage – expanding its Beyond Identity Authenticator to all major operating systems (macOS, Windows, iOS, and Android). The company has streamlined the adoption of passwordless identity management across any business context by offering a completely cloud-native platform, supporting proven industry standards (e.g., OpenID Connect, SAML, TLS, and X.509), and developing formal integration partnerships with single sign-on (SSO) providers, including Ping Identity, Okta, ForgeRock, Microsoft, and others.

“Passwords are so repeatedly exposed that they have become a commodity for criminals. The result has been an exponential rise in account takeover fraud that is costing companies billions annually,” said TJ Jermoluk, CEO of Beyond Identity. “Too many companies use the phrase ‘passwordless’ totally wrong. They aren’t actually eliminating the password at all, just applying Band-Aids to existing legacy password systems. Fundamentally strong authentication requires that companies completely eliminate passwords. But that is just the first move, not the end game. Forward-looking companies are adopting continuous authentication, a new model that provides fundamentally strong, risk-based access, significantly reducing exposure to account takeovers and protecting user privacy.”

About Beyond Identity
Headquartered in New York City, Beyond Identity was founded by industry legends Jim Clark and Tom Jermoluk to eliminate passwords and radically change the way the world logs in. Funded by leading investors, including Koch Disruptive Technologies (KDT) and New Enterprise Associates (NEA), Beyond Identity’s mission is to empower the next generation of secure digital business. By replacing passwords with fundamentally secure X.509-based certificates and enabling continuous, risk-based authentication, the company’s patents-pending approach creates an extended Chain of Trust™ that dramatically improves security and provides a frictionless login experience. Beyond Identity’s cloud-native solution and advanced, standards-based architecture drastically reduces implementation time and costs – enabling customers to increase business velocity, implement new business models, and reduce operating costs. Visit www.beyondidentity.com for more information.

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Commentary
How SolarWinds Busted Up Our Assumptions About Code Signing
Dr. Jethro Beekman, Technical Director,  3/3/2021
News
'ObliqueRAT' Now Hides Behind Images on Compromised Websites
Jai Vijayan, Contributing Writer,  3/2/2021
News
Attackers Turn Struggling Software Projects Into Trojan Horses
Robert Lemos, Contributing Writer,  2/26/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-5148
PUBLISHED: 2021-03-05
SonicWall SSO-agent default configuration uses NetAPI to probe the associated IP's in the network, this client probing method allows a potential attacker to capture the password hash of the privileged user and potentially forces the SSO Agent to authenticate allowing an attacker to bypass firewall a...
CVE-2020-36255
PUBLISHED: 2021-03-05
An issue was discovered in IdentityModel (aka ScottBrady.IdentityModel) before 1.3.0. The Branca implementation allows an attacker to modify and forge authentication tokens.
CVE-2019-18351
PUBLISHED: 2021-03-05
An issue was discovered in channels/chan_sip.c in Sangoma Asterisk through 13.29.1, through 16.6.1, and through 17.0.0; and Certified Asterisk through 13.21-cert4. A SIP request can be sent to Asterisk that can change a SIP peer's IP address. A REGISTER does not need to occur, and calls can be hijac...
CVE-2021-27963
PUBLISHED: 2021-03-05
SonLogger before 6.4.1 is affected by user creation with any user permissions profile (e.g., SuperAdmin). An anonymous user can send a POST request to /User/saveUser without any authentication or session header.
CVE-2021-27964
PUBLISHED: 2021-03-05
SonLogger before 6.4.1 is affected by Unauthenticated Arbitrary File Upload. An attacker can send a POST request to /Config/SaveUploadedHotspotLogoFile without any authentication or session header. There is no check for the file extension or content of the uploaded file.