Data Science Investment Counter —Funding raised by UK data science companies in 2017 as of today
£ 231.660 Million

AI Authentication Platform Callsign Raises £26.8M Series A

Callsign, a platform using AI to provide authentication, has closed a £26.8 million Series A round led by Accel and PTB Ventures, and backed by Allegis Capital and NightDragon Security.

The company had previously raised a Seed round for an undisclosed amount in September 2016.

Founded in 2012, Callsign has created a deep learning platform called Intelligence Driven Authentication (IDA), which enables companies to select the most reliable and easiest authentication system for each user in real time, depending on their profile, biometric features, and behaviour.

In other words, Callsign’s AI steps up the level of security and required authentication depending on how potentially  suspicious the user’s activity is.

The technology is currently used by financial institutions and consumer-facing firms. The fresh cash will be invested in the company’s growth, and in driving a global expansion, especially to the US and the Far East.

Callsign CEO and founder Zia Hayat released a statement on the fresh round: “Several years ago, I realised that the way we identify ourselves online was very broken. I knew we needed to make existing solutions like multi-factor authentication and fraud analytics better by bringing them together,” he said.

“Our IDA platform has had an incredible reception from financial institutions, governments and other large enterprises, and this investment will allow us to grow the business and meet some of the strong demand we’re seeing.”

NightDragon’s cybersecurity expert David DeWalt, who is now poised to join the company’s board as vice chairman, also commented: “Zia and his exceptional product and engineering team have built the foundations of a very solid business. They are pioneering a new approach to authentication with a powerful product that is quickly attracting some of the world’s leading businesses as customers.”

Image via Callsign/Facebook

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