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

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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