Authentication Provider LoginID Raises $6 Million in Seed Funding
FIDO-certified multi-factor authentication provider LoginID this week announced that it raised $6 million in seed funding.
Founded in 2019 and based in San Mateo, California, LoginID provides identity protection and control over personal information, helping companies add FIDO-certified biometrics to websites and applications, including ecommerce and banking sites.
According to LoginID, its APIs and SDKs enable enterprises to integrate FIDO-certified authentication within minutes. LoginID recently received FIDO UAF 1.1 server certification, and is also iOS and Android certified.
LoginID says it plans to use the infusion of cash to accelerate adoption of passwordless authentication.
The seed funding round was led by fintech entrepreneurs Damien Balsan (LoopPay and Mobeewave), Fabrice Grinda from FJ Labs (Zingy), George Wallner (Hypercom, LoopPay), Will Wang Graylin (Roam, LoopPay, OVLoop, Indigo), and also saw participation from Asli RI, one of the largest KYC providers in Indonesia, and Leonis Investment.
“FJ Labs invests in powerful, big ideas that scale,” said FJ Labs’ Grinda. “I was struck by the simplicity of LoginIDs integration capability, for what can typically be a complex, laborious process. The market potential for deploying a fully certified FIDO API in the financial industry and its potential to disrupt current non-compliant authentication is significant.”