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Multi-Factor Authentication Inc. Raises $4.5 Million in Private Equity Financing
Company Will Go to Expand Engineering and Sales Resources; Building Powerful Enterprise Authentication Solutions to the Network from Multiple Access Points
IRVINE, Calif. – July 25, 2007 – Multi-Factor Authentication, Inc., (MFA) today announced that the company completed a $4.5 million private placement with a select group of accredited investors.
“Strong demand for this offering validates our business model and the marketability of our core technology” said Multi-Factor CFO Thomas Stewart. “We are now in position to focus on growing revenue”
“We have seen strong demand for the products we have developed over the past two years. This new funding will allow us to execute on our plans to aggressively take our SecureAuth Products to market,” said Craig Lund, CEO of Multi-Factor Authentication. “Being well funded will allow us to get this breakthrough technology deployed to a broad customer base that is demanding a more secure, less expensive method to authenticate.”
SecureAuth:
- Requires No Tokens to Carry or Replace
- Full bidirectional X.509 Authentication with no PKI infrastructure
- Fraction of the cost of Tokens, PKI systems, or other phone authentication systems.
For more information, visit us at www.multifa.com.
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