Nok Nok Labs, the security technology developer that helped to found the FIDO Alliance, has announced the closure of a Series C round of investments that saw the company raise $8.25 million. Nok Nok received significant investments from groups including Lenovo, DDS Inc., and Raven Ventures.
The company has also announced that the newest iteration of its NNL S3 Authentication Suite will support the FIDO 1.0 specifications, which is expected given that the company is a FIDO founding member.
Both developments point to the rising concerns in the IT industry over security standards, especially as consumers increasingly perform financial transactions online and through their mobile devices, and as the Internet of Things expands. Commenting in a press release, Nok Nok Labs CEO Phillip Dunkelberger noted that the interest shown by “strategic investors in both Australia and Japan demonstrates the global nature of the problem.”
The trends reflected here – growth in mCommerce and the IoT, and rising security concerns – seem poised only to increase. Given Nok Nok Labs’ interest in many different facets of digital security, the company’s ability to attract investment is perfectly understandable.
(Source: Mobile ID World)