Beijing-based mobile identity authentication service provider Trusfort Technology recently revealed that it completed RMB 120 mln in Series B2 funding in December 2017, in a round led by Yunfeng Capital with participation from Dreamfly Capital Management, SIG Asia Investment, and Redpoint Ventures.
Trusfort's basic product line is mobile multifactor authentication (MFA) and intelligent behavior authentication (IPA) with the two businesses complementing each other. Previously, after users entered an account and password, the enterprise's server would verify the information, but with Trusfort adds a new layer of security with a certificate generated on the user's handset. A unique ID, which can take the form of a key or character string, is generated from more than 5,000 features along 20 dimensions, including SIM card, time, account, data, and apps.
Trusfort currently serves more than 100 large and mid-sized enterprise clients, covering nearly 100 mln mobile users, and protecting tens of millions of users per day on average. Trusfort has recovered as much as RMB 100 mln in accumulated direct economic damages for its clients to date.
Trusfort currently has revenue of nearly RMB 100 mln, and in 2018 plans to create solutions for several core industries in 2018, as well as to continue building its team with the establishment of an R&D department in Wuhan.
Editor's Note: In June 2017, Trusfort landed RMB 9-digit Series B funding from SIG and Redpoint Ventures. For more information on this topic, please see Identity Authentication Solutions Firm Trusfort Wins RMB 9-digit Series B Funding, MD 6/01/17 issue.