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Averon Closes New Funding Round, Bringing Raise to $13.3 Million

Averon Closes New Funding Round, Bringing Raise to $13.3 Million
Credit: averon.com

Averon announced today it has closed a $5 million Series A1 financing round led by Avalon Ventures and Salesforce founder and CEO Marc Benioff. The round follows Averon’s Series A in October, 2017, which was also led by Avalon Ventures, and brings the full Series A amount raised to $13.3 million.

Averon’s solution combines proprietary blockchain technology with mobile carrier data signaling and hardware already in every smartphone to provide instant authentication for mobile users. It can also be combined with biometrics such as fingerprint and facial recognition methods to strengthen existing 2FA/MFA techniques. According to the company, Averon’s mobile authentication technology is protected by 25 patents in the United States and worldwide.