Mobile security company TeleSign today announced it has closed a $40m Series B financing round, enabling the company to “invest aggressively” in new innovation and growth opportunities, it said.
The latest round was led by Adams Street Partners with participation from March Capital Partners and existing investor, Summit Partners.
The funding will primarily be used to invest in TeleSign’s global growth strategy, as well as financing a hiring strategy for the company’s product development and engineering teams, it said.
TeleSign has pioneered Mobile Identity, a platform that verifies users by associating a valid mobile phone number with every user account.
“Companies are clamoring for robust yet simple-to-use security solutions that can serve a global user base. TeleSign’s Mobile Identity platform has already proven to be core to the identity and security strategies of the largest web properties,” said Robin Murray, partner, Adams Street Partners. “TeleSign’s client roster, track record, and innovative product roadmap made it an obvious choice for us and we are pleased to be able to lead this investment.”
TeleSign provides services to more than 500 clients including nine of the top ten US web properties and 19 of the top 25 globally.
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