European cybersecurity startup Uniqkey has announced it has raised €5.35 million (approximately $5.9 million) in a new funding round, increasing its total funding to €15.35 million (around $17 million). The latest investment was led by the Swedish venture capital firm BackingMinds, with contributions from various angel investors. Established in 2017 and based in Copenhagen, Denmark, Uniqkey focuses on simplifying and securing employee access to organizational resources through advanced encryption methods.
Uniqkey’s password and access management solution requires employees to utilize a mobile application when logging into enterprise systems while keeping passwords encrypted. The platform ensures a consistent login experience across mobile, desktop, and cloud services, featuring continuous authentication and credential autofill to encourage the use of strong passwords that employees do not need to memorize. Additionally, the solution supports multi-factor authentication and password sharing within organizations to facilitate secure collaboration.
The company also emphasizes employee education to enhance cybersecurity awareness. Organizations using Uniqkey’s platform can monitor and manage employee access to various logins and assets, organize logins into purpose-specific groups, and oversee services registered with work email accounts.
With a team of 50 employees serving over 500 organizations across Europe, Uniqkey plans to use the new funding to scale its technology and extend support primarily to small-to-medium-sized businesses (SMBs). This funding round positions Uniqkey to enhance its offerings and strengthen its market presence in the cybersecurity landscape.
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