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Nok Nok Labs raises $16.5m in Lenovo-backed round

27 Feb 2014

username password security onlineLenovo Group has backed authentication technology specialist Nok Nok Labs by participating in a $16.5m funding round for the company.

Existing investors DCM and ONSET Ventures also backed the round, which Nok Nok said will accelerate development and reach of its recently launched NNL S3 authentication suite.

The company also aims to expand its sales, business development and marketing efforts.

Since its launch in 2011 Nok Nok has raised a total $31.5m.

General manager of Strategy Technology Alliance at Lenovo Dennis Song said, “Our strategic work over the past year with Nok Nok Labs as a part of building the FIDO Alliance obviously had a great impact on this investment decision.

“There is incredible momentum in the device market globally, and together with Nok Nok Labs, we’re driving hard to provide better authentication platforms and increased security in the computing ecosystem.”

Back in 2012 Lenovo backed Israel-focused Vertex Venture Capital’s new fund.

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