Two-Factor Authentication Startup Duo Security Raises $12 Million From Benchmark

[InfoSec News <alerts () infosecnews org>]

http://techcrunch.com/2014/09/22/duo-security-12m-benchmark/

By Ryan Lawler (@ryanlawler)
Techcrunch
Sept 22, 2014

Five-year old startup Duo Security has emerged as a leader in providing 
secure but easy-to-use two-factor authentication technology to a 
fast-growing number of enterprise customers. To bolster its growth, the 
company has raised $12 million in Series B financing from Benchmark, and 
has added general partner Matt Cohler to its board.

Two-factor authentication is nothing new. Security-focused enterprises 
have required their employees to deploy the technology when logging in to 
applications and services containing sensitive information for the last 
several decades. But the world is changing, as organizations are looking 
to embrace more cloud services and employees are demanding enterprise 
solutions that look more like the consumer applications they use in their 
everyday lives.

For a while, enabling two-factor authentication meant using clunky, 
hardware-based token authentication to ensure that a user was who they 
said they were. Over time, more and more two-factor authentication 
solutions have moved to the cloud, requiring users to enter in multi-digit 
codes they receive via email or SMS.

In either case, the solution is less-than-ideal for a workforce that is 
moving increasingly to a bring-your-own-device model for accessing 
enterprise documents and applications. And with more enterprises moving 
from on-premises storage and applications to cloud services, the need to 
lock down sensitive data is more important than ever.

[...]



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