Deals

CIA invests in mobile security company to keep transactions under wraps

In-Q-Tel, the Central Intelligence Agency’s venture capital firm, made a strategic investment and  technology development agreement with Tyfone to “bring mobile security in cloud and NFC transactions to the U.S. government.”

Tyfone provides secure mobile financial transactions and identity solutions. Its products include a mobile banking platform, a mobile wallet, identity management, contactless near-field communication (NFC), applications to bolster marketing campaigns, as well as complementary hardware products. Tyfone has over 50 issued and pending patents. By striking a partnership with the Portland-based company, the U.S. government can leverage the technology to serve national security.

In a statement, Technology VP at In-Q-Tel Jay Emmanuel said “We believe that Tyfone’s technology has the potential to address a wide range of complex government and commercial secure identity challenges.” Read the press release.