Apple to invest $350B into United States, Google partners with Tencent, Ledger raises $75M, and Yoti snags £8M: Friday Deal Book for 01/19/2018

OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements from across the identity industry. Here’s a quick peek at what you need to know for the week ending Jan. 19, 2018.

Apple pledges $350B to U.S.

This week, Apple announced that it will donate $350B USD to the United States economy over the next 5 years, with $55B this year alone, along with 20,000 additional jobs. This money will be used for a variety of different projects and corporate endeavors, but some of the initial projects in the pipeline are a new U.S. campus, and a new domestic data center. Apple has faced a great deal of criticism from Washington throughout the years for not creating more of its products in the U.S. This recent move will help address some of those long standing concerns. As Tim Cook, Apple CEO was quoted: “We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness.” [Read More]

Yoti grabs £8M in venture series

Yoti is the creator of a self-sovereign identity app which uses a combination of facial biometrics and a photo ID to help users’ authenticate themselves to various institutions, including bars and self-checkouts. This news comes at the heels of the announcement that the U.K. club, Ocean Southampton, has agreed to use the Yoti app for admission. This would require the consumer to download the free Yoti app, verify their identity, and then use the auto generated QR code to authenticate their age to enter the club. In this manner, the venue will obtain a higher level of assurance to the consumer’s age, and also makes the entrance process more efficient. Yoti plans to use this money to develop their product and expand to other markets. [Read More]

Cryptocurrency wallet, Ledger, raises $75M

The popularity of cryptocurrencies have exploded over the past year, and as such, more consumers are in the market for secure digital wallets to store their assets. Ledger, a french startup, has raised the record setting $75M dollars, led by European venture capital firm Draper Esprit, this week. In a statement following the announcement Eric Larcheveque, Ledger’s chief executive, stated “We initially designed our Ledger hardware wallet as an enabler for the blockchain revolution. Three years later and with this Series B, we are reaching a significant milestone in our path to build a technological giant in the promising space of cryptocurrencies.” Ledger is creating technologies that can help users store their virtual currencies offline to decrease their exposure to cybersecurity attacks. [Read More]

ServiceNow partners with Okta to add identity layer to cybersecurity stack

Okta is an identity and access management company who announced the launch of their app, “Okta Identity Cloud for Security Operations”, this week. Their app will be made available exclusively on the ServiceNow app store and available to their customers. Okta’s identity solution will enhance ServiceNow’s breach analysis capabilities by associating activity logs with specific users. [Read More]

Eyeota raises $12.5M in Series B round

Adtech company, Eyeota, was able to raise $12.5M this past week in a Series B round, led by Jolt Capital. Founded in 2010, Eyeota was unable to raise a Series A round until 2016, with a Series B this week. With the rise in demand for more focused advertising campaigns, the value of high quality audience data has skyrocketed. [Read More]

Google partners with Tencent

Google continues its push into China, with a deal valued at $500B USD, that is a patent cross-licensing agreement with Tencent. Google has historically struggled to make strides into China, and this latest move from the U.S. tech giant is a sign that they are making progress. Equally beneficial for Tencent, this partnership expands their global reach and presence. [Read More]