Canadian mobile security start-up gets a $30 million boost

Toronto-based SecureKey Technologies Inc. has raised $30 million in growth capital to fund the commercial rollout of its online and mobile authentication solutions.

The financing was led by Intel Capital, the global investment organization of Intel Corp., with whom SecureKey is working to deploy its solutions in Intel Identity Protection Technology (IPT) beginning on Ultrabook devices later in 2012. New investors participating in the round were Visa Inc., MasterCard, Discover Financial Services, Rogers Venture Partners LLC, an early-stage funding source backed by Rogers Communications Inc., and Telus Corp.

The company’s technology mandate is to embed inside device platforms such as laptops, tablets, and mobile phones. SecureKey can then enable in a tap/click to pay approach or tap/click to authentication process provide secure proxies to stored credentials in device or cloud-based digital wallets. SecureKey recently launched a new authentication service for the Government of Canada that allows Canadians to use their bank authentication credentials to obtain access to online government services.

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