HyperGrid hatches $25M, Ravelin rakes in £8M, OverWatchID opts in with $2.5M: Friday Deal Book for 09/14/2018

OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements from across the identity industry. This week, HyperGrid gets hyped with $25 million, Ravelin raises £8 million to fight e-commerce fraud, OverWatchID gets $2.5 million for cloud-based identity solutions, the big four U.S. carriers come together for “Project Verify,” and Okta and Yubico team up for free Yubikeys.

HyperGrid raises $25 million for hybrid cloud management

The Series C round was led by HighBar Partners, with participation from current investors Atlantic Bridge Capital and Acero Capital. HyperGrid plans to use the funding to drive product development, expand global reach for its HyperCloud product, and support its growing base of enterprise and managed service provider customers. The company is the provider of an intelligent hybrid cloud management platform, which includes control access to services based on identity. Its app-centric, modular approach enables businesses to scale cloud management capabilities within a common framework, for centralized control and management of all private and public clouds. [Read more]

Ravelin gets £8 million to help machine learning fight e-commerce fraud

The Series B round was led by BlackFin Capital Partners, with participation from existing investors Amadeus Capital Partners, Passion Capital, and Playfair Capital. Ravelin plans to use the funding to expand, with a new office in the eastern U.S., in response to increase inbound inquiries. Raveling also plans to continue to invest in its products, including the newly launched Payment Service Providers, as well as account security and risk prediction. Ravelin leverages machine learning to help online merchants fight back against fraud, while also reducing false positives. [Read more]

OverWatchID raises $2.5 million for cloud identity solutions

The latest round for the company was led by WestWave Capital and Silicon Valley Data Capital, with participation from IrishAngels Ventures, OCA Ventures, Rockies Venture Club, and Copper River Advisors. OverWatchID will use the money to accelerate growth of the company, and also invest in research and development. The company provides converged identity security solutions in the cloud, including privileged access management, single sign-on, multifactor authentication, and cloud access security brokering. [Read more]

Verizon, AT&T, T-Mobile & Sprint announce ‘Project Verify’

The initiative from the big four U.S. carriers will push a digital identity based on user’s devices and SIM cards. The system, set to launch later this year, will allow users to authenticate themselves in mobile apps without the need to enter a password. The companies, which form the Mobile Authentication Taskforce, are building a device-based form of multi-factor authentication, with an emphasis on giving control of data to individual users. Networking intelligence will handle authentication and verification, by matching the user’s device SIM card to owner details. [Read more]

Okta, Yubico provide free YubiKey Starter Packs to Okta MFA customers

Every Okta customer that uses its multi-factor authentication or Adaptive MFA products will be provided with a free YubiKey starter pack. This will enable customers to access hardware-based protection with YubiKey as a factor option within Okta’s MFA solutions. YubiKey is a universal second factor (U2F) security token, providing a strong level of defense against phishing and man-in-the-middle attacks. Okta specializes in identity verification for enterprise clients, and the partnership will grant two YubiKey security keys to customers, which can then be used as the primary or backup authentication method for Okta Verify. [Read more]