Market Insights

Fair Square Financial fetches $100M, Auth0 acquires $55M, Ubisecure upgrades with more capital: Friday Deal Book for 05/18/2018

May 18, 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 May 18, 2018.

Cambridge Blockchain takes in $7 million

The Series A round by Chinese manufacturing giant Foxconn, with additional support from Portech and the Digital Currency Group. Cambridge Blockchain’s main focus is enterprise data management software, and hopes to leverage Foxconn’s extensive smartphone network to help European companies meet new compliance standards, such as GDPR. [Read more]

Auth0 steams ahead with $55 million

The Series D round was led by Sapphire Ventures, with support from World Innovation Lab, Bessemer Venture Partners, and Trinity Ventures. A Seattle-based startup, Auth0 helps companies develop authentication solutions for their third-party APIs. This latest round is meant to finance international expansion, with their sights set on Japan. “Japan is an important market for us and they should help explain to us how the market works there,” said CEO Eugenio Pace. [Read more]

Cellulant nabs $47.5 million

The Series C round was led by The Rise Fund, which is run by TPG Growth. Additional participation came from Endeavor Catalyst, Satya Capital, and others. Cellulant is a solely Africa-focused digital payments company. They hope to use the capital to expand its partner network of banks and explore entering new countries. [Read more]

Fair Square Financial gets $100 million investment

The Orogen Group provided the equity funding into the startup, which is focused on using an innovative approach to evaluating a person’s credit to make credit cards more accessible. The Orogen Group was founded in 2016 by former Citigroup and Atairos Group CEO Vikram Pandit. Fair Square Financial hopes to leverage this powerhouse investment from an established fund to expand its offering across the domestic market. [Read more]

Census Bureau sticks with single contractor for IT upgrades

In preparation for the 2020 census, the Census Bureau announced a noncompetitive justification in support of a single contractor to continue the implementation of the $9.5 million in upgrades planned for this upcoming cycle. The company currently under contract is TriVir, LLC, a Virginia based IT firm who specializes in these type of enterprise level implementations. The overarching goal of the project is to bring the Census Public Access Security Systems (C-PASS) up to the latest Homeland Security Presidential Directive 12 (HSPD- 12) data security requirements. [Read more]

Ubisecure raises growth capital for compliance software

Ubisecure, a Customer Identity & Access Management software provider, announced a growth capital round led by the Octopus Investment Group. Ubisecure intends to use these newly acquired funds to expand their services further into Europe in to help companies who are working to be compliant with new standards such as GDPR and PSD2. “With the number of breaches involving personal information increasing and with GDPR going into effect on May 25, 2018, the subject of how companies handle identity data has become a particularly hot topic this year.” Simon Wood, CEO of Ubisecure, said in response to this announcement. [Read more]