Futurae authenticates $2m

Futurae Technologies, a Switzerland-based user authentication technology spinout of ETH Zurich, has completed a CHF2m ($2m) round co-led by Axa Venture Partners, the corporate venturing arm of insurance group Axa, according to Fintechnews Switzerland.
Axa co-led the round with VC firm Diventures, with participation from financial services provider Zürcher Kantonalbank and angel investor Stefan Muehlemann.
Founded in 2016 by ETH Zurich’s systems security research group, Futurae Technologies develops user and transaction authentication products based on its zero-touch and transaction signing verification technologies, designed to offer better security without compromising simplicity of access.
The zero-touch system deploys machine learning to enable users to access their data through ambient noise, ultra-sound and other contextual information. Transaction signing allows clients to accept payment authentication via PIN number, fingerprints or facial ID.
Futurae Technologies will put the cash towards market expansion as it works with financial and insurance industry partners and other startups to advance its technology.
Sandra Tobler, chief executive of Futurae, said: “We see companies striving to continuously meet customers’ expectations, offer more personalised services and improve the customer experience. IT security should not be a stumbling block but rather integrate seamlessly into the digital user journey.”