SOUTH African-based device identity and authentication solutions company Entersekt announced last week that it had received a significant investment from leading technology-focused private equity firm Accel-KKR.
The investment will allow Entersekt to accelerate its future plans, hire top talent and fuel expansion into new markets.
Entersekt chief executive Schalk Nolte said they were very excited to have Accel-KKR on board.
“The industry is experiencing a wave of innovation in areas like omnichannel and passwordless authentication, 3-D Secure and open banking, all of which are strategic focus areas for Entersekt. The investment from Accel-KKR will help us scale our business to reach more organisations across more regions with our cloud-first solutions,” Nolte said.
Entersekt secures more than 1 billion transactions every month, protecting millions of financial services customers across the globe. The company is an innovator in the global authentication market, known for delivering market and industry firsts. Two recent examples include a world-first payment authentication solution based on the FIDO standard, and a market-first implementation of an AI-powered EMV 3-D Secure solution currently making rapid progress at an award-winning bank.
Founded in 2000 as one of the first technology-focused private equity firms, Accel-KKR has invested in more than 300 mid-market software and technology-enabled services businesses around the world. The firm partners with strong management teams in B2B software companies with mission-critical technologies. In August this year, Accel-KKR was named one of the Top 25 Private Equity Firms for Growth Companies by GrowthCap Advisory.
BUSINESS REPORT ONLINE