Uniken Secures $10 Million in Funding

On Nov 8, 2018

Uniken, a customer-first cybersecurity company, announced it has secured an additional $10 million in funding from a strategic North American family office and management entity, bringing total investment in the company to $20 million. The funding will be used to accelerate global expansion and meet surging demand for its omnichannel security platform, REL-ID, which enables consumers to interact with “unprecedented ease and security with businesses across all channels.” In less than a year, Uniken has received recognition from leading analysts Gartner, Forrester and One World Identity, which is considered a substantial milestone for a Series A company.

Uniken says its mission is to help organizations combat the identity, network and device threats that are the major sources of breach and fraud, without compromising on the consumer-friendly user experience required to compete in the modern marketplace. The REL-ID platform integrates identity, strong cryptographic authentication, channel security and intelligent endpoint threat detection into one unified defense-in-depth solution that is easy to work with for developers, security operations and, most importantly, end-users. All while freeing organizations from having to worry about credential compromise, DNS attacks, malicious wi-fi threats and SMS-based attack vectors like phone porting and SIM swaps.

Originally developed for military use, the platform has expanded rapidly over the last two years, having secured $3.4 trillion in transactions and 2.2 billion interactions, due to its “customer first” approach. REL-ID enables a single app experience that solves both the security and user experience challenges of across all channels. But its unique approach goes far beyond authentication and enables true digital transformation by providing a customer friendly method for high risk transaction verification.

Whether a client is contacting the call center, transacting with their mobile app, logging into a website or visiting a physical location, they go through the same fast and easy authentication and transaction verification process without the need for passwords, challenge questions or personal identifiable information. Typically, other security platforms force consumers to go through redundant and frustrating security processes. With REL-ID, companies no longer are forced to choose between implementing the highest-level security platforms or enabling top-notch customer experience.

“In today’s on-demand and fast-paced economy, consumers expect to make transactions when and where they want, and Uniken allows them to do just that,” said Bimal Gandhi, CEO at Uniken. “Through our fast and user-friendly security process, we help our customers unlock new transaction models and eliminate every major vector of breach and fraud. And the proof is in the numbers. To date, our customers have experienced zero dollars, identities or data lost, while increasing customer engagement by 100-300%.”

The REL-ID security platform is available as an SDK or white-labeled app at a cost of pennies per user and helps clients across all verticals: banking, insurance, e-commerce, retail, airlines and more.

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