Secret Double Octopus

Secret Double Octopus (SDO) is an Israeli software company specializing in passwordless authentication for enterprise environments.[1]

Secret Double Octopus
TypePrivate
IndustrySecurity Software
Founded2015
Headquarters
Palo Alto / Tel-Aviv
Area served
Worldwide
Key people
Number of employees
50 (2021)
WebsiteOfficial website

History

The company was founded in 2015 by a team of entrepreneurs and security researchers from Ben-Gurion University of the Negev in Beersheba. The team was led by Prof. Shlomi Dolev and Dr. Shimrit Tzur-David.[2][3]

The company's core product is based on proprietary password alternatives for password-based legacy systems and secure communications using secret sharing algorithms, originally developed to protect nuclear launch codes,[4] now used to prevent cyber attacks. Secret Double Octopus' technology is regarded as a universal replacement for passwords, OTPs, physical security keys, smart cards, and other authentication mechanisms.

The company uses proprietary phone-as-a-token technology to prevent unauthorized use of systems while preventing identity theft.[5]

Secret Double Octopus has offices in Europe and the U.S. Its headquarters are in Tel-Aviv and Palo Alto, California.

Product and funding

The company offers an enterprise authentication platform that covers on-premises assets, cloud applications, remote tools (e.g. VPNs and RDPs), desktop/laptop workstation authentication and an authenticator app for passwordless authentication or multi-factor authentication.

The company raised a $6 million A round from JVP, Iris Capital, Liberty Israel and Benhamou Global Ventures.[6]

In April 2020, the company announced a $15 million Series B round to expand their passwordless authentication and remote-access security solutions for enterprises.[7][8] The new round brings the company's total funding to $22.5 million.[9]

Awards and recognition

Double Octopus was named a Gartner 'Cool Vendor' in 2016[10] and in 2017, Business Insider listed it on its "50 startups that will boom according to VCs".[11]

In 2021 the company was named "Best in Class" for enterprise passwordless authentication by the Aite Group[12]

See also

References
  1. Israel's Secret Double Octopus Raises $15 Million to Help Eliminate Passwords Israel Defense
  2. "BGU spin-off Secret Double Octopus Raises $6M to Replace Passwords and SMS Verification". bgu.ac.il.
  3. Kepes, Ben (2015-11-18). "Secret Double Octopus goes beyond encryption". Network World. Retrieved 2020-04-06.
  4. "Privacy-Preserving_Secret_Shared_Computations_using_MapReduce_IEEE_TDSC".
  5. Cybersecurity co Secret Double Octopus raises $15 m, Globes
  6. Israel's SpaceIL One of Five Finalists in Global Race to the Moon, Haaretz
  7. Israeli startup Secret Double Octopus raises $15 m. to help end passwords, Jerusalem Post
  8. "Secret Double Octopus raises $15 million to authenticate employees without passwords". VentureBeat. 2020-04-28. Retrieved 2021-02-10.
  9. Passwordless Authentication Start-up Raises $15 million, Calcalist
  10. "Cool Vendors in Communications Service Provider Security Solutions, 2016". Gartner. Retrieved 2020-04-06.
  11. Bort, Julie. "50 startups that will boom in 2018, according to VCs". Business Insider. Retrieved 2020-04-06.
  12. Octopus, Secret Double. "Secret Double Octopus Named "Best in Class" for Enterprise Passwordless Authentication in New Aite Group Matrix Report". www.prnewswire.com. Retrieved 2021-06-27.


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