Mobile听authentication platform tru.ID is 鈥榚xiting stealth mode鈥� after securing a 拢3m funding round from investors including Episode 1, MMC Ventures and NHN Ventures.听
tru.ID has been launched by experienced industry insiders to help developers eliminate passwords and bring user authentication into the 21st听Century.听听听
Traditional methods of user authentication, such as email + password or SMS one-time-passwords,听don鈥檛 work in today鈥檚 mobile-first world, offering poor user experience and creating security weaknesses. The industry has been trying to replace passwords for听years, but听has failed to find a universal solution.听听
Tru.ID believes it听has听the answer by combining the prevalence of mobile phones with the cryptographic security of the SIM card. The relatively friction-free experience means fewer users abandon the sign-up听process, which feeds through to higher revenues.听听
Stronger security means safer users and less fraud, which lowers costs and improves brand reputation.听
This new approach to user authentication has a wide range of use cases, from initial user听on-boarding to subsequent login and multi-factor authentication in higher risk scenarios. It can be used in any sector which needs to authenticate users on a mobile app, including financial services, gig economy, eCommerce, digital health, dating and messaging.听
tru.ID is already live in听five听markets听– the听UK, Canada, USA, India听and听Indonesia听–听and will use this funding to听further expand its geographic reach and invest in growth.听听听
Co-founders Paul McGuire and Eric Nadalin are serial entrepreneurs with deep mobile expertise.听McGuire听previously co-founded听mBlox听(acquired by Sinch),听followed by Boku,听and听Nadalin听was co-founder of听iPin听(acquired by听Valista) and听Nexmo听(acquired by Vonage).听
鈥淲e now live in a mobile-first world, but we have been brainwashed into accepting a听legacy approach to user identity on mobile. tru.ID aims to finally change that, by delivering user authentication that is mobile-native, frictionless, secure and private. Mobile authentication the way it should be 鈥撎齠it for the 21st听Century,鈥�听said McGuire.听
Paul McNabb,听partner at Episode 1, commented:听鈥淒igital identity is an important investment theme for us and the key to unlocking the听next leg of growth for the digital economy.听听
鈥�The kind of frictionless authentication the founders have delivered is听pretty close to magic. When a team, an idea and a solution come together at the same time – that鈥檚 what being a VC is all about.鈥�听