Today enterprise-level two-factor authentication startup Duo Security announced a $30 million raise and the launch of new services.
Duo, which means "two" in Latin, focuses on identity security that requires two methods of login -- for instance, a password and a PIN sent to your phone. With this fresh round of funding, the company is building out its service into a platform, where IT departments can see what devices and users are connected to the network and manage what they have access to.
It's a play for businesses with a bring-your-own-device policy, which an increasing number of enterprises offer.
The new offering, Platform Edition, is $6 per user per month and will give enterprises a more global view of their network. In comparison, Duo offers company-wide deployment of its two-factor authentication services for $3 per user per month.
The Google Ventures-backed startup, which counts Twitter, Facebook, and NASA among its clients, sees network visibility in conjunction with identity security as a $67 billion market.
Many of the cyberattacks on businesses in 2014 stemmed from stolen login credentials, giving bad actors initial access to the databases of Target, Home Depot, and others. No doubt many retailers will be looking for security solutions this year, more so than in years past.
Identity security is also top of mind for consumers, which is why Duo will also be offering a free two-factor authentication service for consumers as well.
Redpoint Ventures led this latest round, which saw participation from existing investors Google Ventures, Benchmark Capital, True Ventures, and Radar Partners. Duo has raised a total of $48 million to date.