Software startup Authasas from The Hague today received an investment from the regional development society of South-Holland, InnovationQuarter.
With an undisclosed amount of funding (but a maximum of 2.5 million euros), Authasas would like to grow internationally . “Our software runs all over the world and is for example used by Lego and the South-African parliament”, says ceo Reinier van der Drift. “With the investment we would particularly like to expand in the US.”
The company provides a scalable and cost-effective multi-factor authentication solution. Authentication involves the process in which the authenticity of an application or computer is checked.
This ensures that only authorized persons have access to for example a network, server or bank account. Authasas’ software makes it possible to use methods such as one-time passwords, tokens, fingerprints or smartphone authentication in one integral platform.
The investment in Authasas is the first of the fund in the safety & security sector, a sector in which The Hague and the region want to excel. The campus of The Hague Security Delta (HSD), to which the startup belongs, is one of the biggest security clusters of cooperating companies and institutions in Europe.
InnovationQuarter provides funding up to 2.5 million euros in the form of a loan or in exchange for shares and on the promise of finding private co-investors. “The fund is a bridge towards private participation”, says InnovationQuarter.
Authasas was founded in 2011 and has grown from 4 to over 30 employees in 2015.
Photo by stux (Creative Commons vis Pixabay)