2020 has been a year to remember, that we can all agree on. The global effects brought to us by the COVID-19 pandemic registered significant changes we all experienced in our personal and professional life, including the unprecedented rise in work-from-home and an ever-growing dependency on the digital world.
For the Cyber industry, the global changes have on the one hand brought greater risks especially to large enterprises, but at the same time a growing awareness to the importance of protecting our employees and data which led to the fast implementation of protective measures. We are happy to have had the ability to help enterprises achieve these goals and support our clients even more during this period. 2020 has also extended our reach to new markets and we are excited to welcome new clients in multiple markets worldwide such as in Singapore and UAE.
Proving there are a real global need and growing interest for the passwordless market, we closed 2020 with two funding rounds, the first, round B with $15m in April included investors such as Sony Financial Ventures, KDDI, and Global Brain, Followed by Standard Chartered Plc’s venture capital arm, SCV, who has made a strategic investment in our technology.
This year’s Gartner report “Market Guide for User Authentication “ contains several interesting findings such as the growing demand for a modern authentication method fitting legacy systems, the wish to eliminate passwords throughout whole organizations, and the wide range of authenticator types needed in large companies to support all use-cases and changing user’s demands. Secret Double Octopus’s solution is uniquely suited to answer these needs and many more and we were featured for the 3rd time.
The growing demand had led to more product features and integration capabilities including new technological partnerships with leading global companies ForgeRock and Citrix, extending our reach to more potential users and enhancing our capabilities and product flexibility. But Maybe our biggest achievement this year is registering our innovative enterprise-ready passwordless solution as a patent-protected technology, thus strengthening our position as a leader in the passwordless authentication market once more. By securing the core of our technology we strengthened our position as the only passwordless authentication solution that fits the entire enterprise, from AD managed desktops to any service and application.
In addition, as a FIDO2 certified authentication platform, we hosted a joint webinar with the FIDO Alliance and had a speaking session at the first Authenticate conference where our CTO, Dr. Shimrit Tzur-David introduced our Passwordless Enterprise vision and shoed how it can be accomplished today.
Hard to believe we started the year at the RSA conference, maybe the last time we had the ability to interact with potential clients and partners face to face, where we introduced you to our “Beat the Password” game, proving we really can’t remember our passwords (or at least the ones that don’t include our birthday and pet name). Users are human, right?
We hope to be able to meet and interact with you in 2021, what we believe will be the Passwordless year where enterprises will finally catch up to the consumer world and join our passwordless revolution.