Financing round: Futurae
Futurae closes oversubscribed Series A financing round!
We are pleased to announce that our portfolio company Futurae has completed an oversubscribed Series A financing round in the amount of 5 million. As one of the high flyers in our portfolio, which has performed very well over the last years, we were also able to participate in this round. The Series A is led by the new lead investor Euroclear and Co-Investors such as AXA Venture Partners, ZKB and PwC. The fresh capital gives Futurae the opportunity to accelerate its international expansion and product development.
Sandra Tobler, CEO of Futurae, said:
“The customer authentication market is stuck with insecure and unusable solutions that dampen user engagement and break the digital journey. The main driver of our rapid growth, besides the high usability and ease of integration, is the fact that we help our customers to massively reduce their high support costs”
Since our first investment in 2018, we have been able to build a trusting relationship with the founders of Futurae and we particularly appreciate the professional and smooth cooperation. In the past years, the team has been able to convince with a highly competitive and scalable product and grow strongly. The coronavirus pandemic in particular created new challenges for companies as they had to adapt to an operating model where working from home has become the "new normal". The crisis accelerated the trend of digital transformation, and cybersecurity must now be a key issue. Demand has increased significantly, especially in the financial and healthcare industries. The ETH spin-off was able to convince with its authentication suite, that modular solutions that can be implemented easily and quickly for the individual needs of the companies.
We are looking forward to our joint journey with the Futurae team and are pleased to welcome Euroclear as a strong co-investor on board.
Click here for the full press release.