Token, a revolutionary provider of secure, wearable authentication solutions, today announced a $30 million financing raise to support the company’s product development and strategic growth objectives.
Grand Oaks’ financing comes in the form of a $20M secured note, and a $10M convertible note, to provide financing for inventory and working capital funding to support the company’s overall growth and future product development.
Phishing and ransomware attacks continue to increase and are forecast to become more effective and damaging with the introduction of artificial intelligence. Token’s next-generation MFA solution is an easy-to-implement, passwordless, FIDO 2-compliant, biometric wearable that stops phishing attacks and data breaches. The Token smart ring is the only authentication device that solves the vulnerabilities in BYOD approaches and legacy MFA products, and has already won five industry awards for innovation and security.
In a world of stolen identities and compromised user credentials, Token is changing the way their customers secure their organizations by providing passwordless, biometric, multifactor authentication. They deliver the next generation of multifactor authentication that is invulnerable to social engineering, malware, and tampering for organizations where breaches, data loss, and ransomware must be prevented. To learn more, visit www.tokenring.com.
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This entry was posted on April 24, 2023 at 2:18 pm and is filed under Commentary with tags Token. You can follow any responses to this entry through the RSS 2.0 feed.
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Token Announces $30M Financing
Token, a revolutionary provider of secure, wearable authentication solutions, today announced a $30 million financing raise to support the company’s product development and strategic growth objectives.
Grand Oaks’ financing comes in the form of a $20M secured note, and a $10M convertible note, to provide financing for inventory and working capital funding to support the company’s overall growth and future product development.
Phishing and ransomware attacks continue to increase and are forecast to become more effective and damaging with the introduction of artificial intelligence. Token’s next-generation MFA solution is an easy-to-implement, passwordless, FIDO 2-compliant, biometric wearable that stops phishing attacks and data breaches. The Token smart ring is the only authentication device that solves the vulnerabilities in BYOD approaches and legacy MFA products, and has already won five industry awards for innovation and security.
In a world of stolen identities and compromised user credentials, Token is changing the way their customers secure their organizations by providing passwordless, biometric, multifactor authentication. They deliver the next generation of multifactor authentication that is invulnerable to social engineering, malware, and tampering for organizations where breaches, data loss, and ransomware must be prevented. To learn more, visit www.tokenring.com.
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This entry was posted on April 24, 2023 at 2:18 pm and is filed under Commentary with tags Token. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.