Device Authority secures £1.6m in Series A funding from Prelude to support North American expansion.
Prelude has provided a follow on investment to support the security software provider.
Device Authority provides identity and access management solutions for enterprise internet of things ecosystems. Its KeyScaler platform automates zero trust security to secure connected environments.
Device Authority has secured £1.6m in Series A funding from Prelude, the venture practice for Mercato Partners. The fresh capital follows a recent $7m investment from Ten Eleven Ventures and will support the company as it advances its technology and expands its presence in North America.
Prelude selected the business due to its team, SaaS KeyScaler platform, and ability to address security challenges in the internet of things market. The transaction comes as organisations increasingly face cyber attacks targeting connected devices, heightening the need for robust identity and access management.
From the founder
"As a company that is immersed in the connected world and sees the latest use cases being deployed by our customers all over the world, we are acutely aware of how important it is to ensure complete trust in the devices and data being used. Our KSaaS cloud service and KeyScaler platform has already been recognised as the ‘Rising Azure Technology’ in Microsoft’s Partner of The Year Awards and by analysts who have identified Device Authority as the technological leader in its field. We are delighted that Prelude has joined our recent financing with Ten Eleven Ventures to also support our ongoing growth journey as we continue to advance our solution and grow our presence in North America."
Darron Antill
CEO at Device Authority
Investor perspective
"We have been familiar with the Device Authority product and team for quite some time, and we are thrilled about the opportunity to invest in their future growth. In our view, this company stands out as the preeminent leader in Identity and Access Management for enterprise IoT."
Davis Warnock
General Partner, Prelude
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
Device Authority
Device Authority secures identity and access management for enterprise internet of things ecosystems.