Auth, auth, more auth, & fines: Friday Deal Book for 6/30/2017

One World Identity’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements in the identity industry. Here’s a quick peek at what you need to know for the week ending June 30, 2017.

Authentication provider Auth0 raises $30 million Series C
The round was led by Meritech Capital Partners, with additional participation from K9 Ventures, Trinity Ventures and corporate venture capital participants NTT DOCOMO Ventures and Telstra Ventures. Auth0 has raised a total of $54 million. The company plans on to use the funds to expand its geographic footprint and invest in subscriber and talent acquisition. Auth0 reported strong year over year growth with revenue increase of nearly 300% while adding 1,250 new companies to its subscriber base. The strategic investment from telecom venture funds could open critical partnerships and clients for the company. Funding to authentication providers has been strong this quarter, but the market remains highly fragmented with many new entrants. [Read more]

Real time data analytics player Kinetica raises $50 million series A
Kinetica started in 2009 as a US Army research project to develop a database that could support real time tracking of terrorists. Today, the company provides a series of real time analytics capabilities based on GPU accelerated databases that can be used for a variety of use cases. Its clients include U.S. Army, the National Security Agency, PG&E, and GlaxoSmithKline. The latest round was co-led by Canvas Ventures and Meritech Capital Partners, with participation from Citi Ventures and GreatPoint Ventures, bringing the company’s total funding to a total of $63 million. The explosive growth in data being generated, overall decreased storage costs and cheaper processing power, has led to a growth of ‘big data’ analytics companies. However, latency in data processing remains an issue as the volume of data continues to grow – hardware based acceleration is a welcome product development. [Read more]

SRI International wins $12.5 million IARPA contract, partners with Compact Imaging for biometrics development
SRI International is partnering with Compact Imaging for development of biometrics systems resistant to presentation attacks under a $12.5 million contract awarded to SRI International by the Intelligence Advanced Research Projects Activity (IARPA) Odin Program. Compact Imaging’s technology includes sensors that measure changes in living tissue (heart rate, blood flow, etc.) that could be promising to detect if the tissues are real or being faked. IARPA has awarded other contracts to develop biometrics capabilities, including a $5.8 million funding to Crossmatch under the Thor program back in April. Biometrics systems for digital and physical access control continue to expand across all sectors. Various biometric modalities exhibit different attack vulnerabilities. The government sector and those using biometrics authentication to secure high dollar value access or transactions lead the demand for technologies to prevent spoofing, replay and presentation attacks. [Read more]

Credit repair companies fined $2 million by CFPB for misleading consumers
The Consumer Financial Protection Bureau (CFPB) filed two complaints and proposed final judgments in federal court against four credit repair companies – Prime Credit, LLC, IMC Capital, LLC, Commercial Credit Consultants. It also levied fines on three executives for misleading consumers and charging illegal fees. The CFPB alleges that the companies not only charged illegal advance fees for credit repair services, but also misrepresented their ability to repair credit scores. Other credit repair companies have come under CFPB crosshairs for similar violations, such as the September 2016 lawsuit against Prime Marketing Holdings. Given the prevalence of identity theft and subsequent damage to consumer credit scores, there has been an increase of new entrants into the credit repair and identity protection services market. As the complaints show, some have turned out to be borderline scams themselves. [Read more]

Entrust Datacard launches new authentication service
Entrust Datacard announced the launch of a new cloud based authentication service called IntelliTrust. The service can be used to secure access to cloud, mobile and legacy applications using a unified authentication platform. In addition, it features a graphical interface for building customized risk policies and tailoring configuration parameters. This week was a hot one for authentication providers, with a partnership announced between Daon and EyeVerify, Auth0’s funding, and Entrust’s new product launch. Given the continued prevalence of insecure authentication using username and passwords, the market still has room for growth with no clear winner, or technology, yet crowned. [Read more]