The strategic investment will accelerate customer growth and scale the company’s worldwide partnerships network to bring its revolutionary solution to new markets
MENLO PARK, CA – Secret Double Octopus, the market leader in Passwordless solutions for the enterprise workforce, announced today the successful closure of a Series C funding round. Since 2022, the company has raised another $15 million in capital, including this most recent equity round led by BGV. The investment, which has the backing of both new and existing strategic investors including JVP, SCV & KDDI, will help the company satisfy the increasing demand for its workforce-centered Passwordless authentication solution.
Secret Double Octopus’ innovative approach to workforce authentication has positioned it as a technology leader in the Passwordless space and a strategic player in the larger IAM market. The company’s authentication platform enables an enterprise-wide Passwordless reality for employees and IT teams at a high scale and in a wide range of verticals such as financial firms, defense contractors, local and municipal governments, industrial manufacturing, and other heavily regulated industries. Its unique Passwordless solution leverages several patented technologies to offer a secure and seamless user experience while enhancing the overall cybersecurity posture across the enterprise.
The funds from this latest round will be used to accelerate revenue growth and expand the company’s global partnership network. Thus, Secret Double Octopus aims to capitalize on the growing need for modern phishing-resistant authentication solutions for the workforce, especially where heavy reliance on on-premises and hybrid infrastructure is a necessity.