A Group Of High-Profile Investors Is Making A $3 Million Bet On A Startup That's Trying To Kill Passwords
Authy, a one-stop app for all of your two-factor authentication PINs, is one of the newcomers to this space.
In just two years, Authy has added about a million users and some big enterprise clients like Twitch, Coinbase, and Cloudflare. Over 4,000 applications are integrated with Authy's platform, including Gmail, Facebook, and Dropbox.
On Monday, Authy announced a new series A funding worth $3 million. It has a pretty impressive list of high-profile investors, including Box CEO Aaron Levie, Salesforce.com, Winklevoss Capital, and Y-Combinator.
"Passwords by itself are weak. They're not sufficiently secured for the things we do today," Marc Boroditsky, president of Authy, told Business Insider. "With Authy, you'll have a single way to authenticate yourself to all the different apps that you're using."
The way Authy works is pretty straightforward. Once you set it up to work with your individual accounts, like Facebook or Dropbox, you can easily look up your two-factor PINs when you log in on the Authy app, without having to wait for a text message or open a new app to receive it.
The PINs are automatically deleted after 20 seconds, and gets regenerated every time you log in. Coinbase, for example, requires a new authentication PIN for every new transaction, so Authy's quick access to your PIN makes the whole process a lot easier.
There are several competitors in this space, including Google Authenticator and Duo Security. But Boroditsky claims Authy is a better option because of its cross-device nature and simple integration process. Coinbase, in fact, states on its website that Authy "provides the best level of security."
- Finance minister holds pre-budget stakeholder consultation with BJP functionaries
- Amazon Sale: Best deals on kitchen items and dining products
- Amazon Great Republic Sale: Best deals on kitchen appliances
- India records 2,71,202 fresh COVID-19 cases in the last 24 hours, active cases highest in 225 days
- Amazon Great Republic Day Sale 2022 — Best deals and offers on laptops
- Section 144 in Mumbai
- Elon Musk
- India's win in Centurion
- Millionaires Employees
- Car with Waiting Period
- Tax Saving Investment
- Urban Company
- New Year 2022
- Upcoming new laptops
- Bank Holidays in January
- Valuable NFT Projects
- Xiaomi 11i hypercharge
- GST Input tax credit
- Public Holidays in 2022
- RBL Stocks
- Upcoming Smartphones in 2022