Secret Double Octopus

Secret Double Octopus
Company typePrivate
IndustrySecurity Software
Founded2015
Headquarters
Palo Alto
Area served
Worldwide
Key people
Number of employees
50 (2021)
WebsiteOfficial website

Secret Double Octopus (SDO) is a cybersecurity software company specializing in passwordless authentication for enterprise environments.[1]

History

The company was founded in 2015 by a team of entrepreneurs and security researchers from Ben-Gurion University of the Negev in Beersheba. The team was led by Prof. Shlomi Dolev and Dr. Shimrit Tzur-David.[2][3]

The company's core product is based on proprietary password alternatives for password-based legacy systems and secure communications using secret sharing algorithms, originally developed to protect nuclear launch codes,[4] now used to prevent cyber attacks. Secret Double Octopus' technology is regarded as a universal replacement for passwords, OTPs, physical security keys, smart cards, and other authentication mechanisms.

The company uses proprietary phone-as-a-token technology to prevent unauthorized use of systems while preventing identity theft.[5]

Secret Double Octopus has offices in Europe and the U.S. Its headquarters are in Tel-Aviv and Palo Alto, California.

Product and funding

The company offers an enterprise authentication platform that covers on-premises assets, cloud applications, remote tools (e.g. VPNs and RDPs), desktop/laptop workstation authentication and an authenticator app for passwordless authentication or multi-factor authentication.

The company raised a $6 million A round from JVP, Iris Capital, Liberty Israel and Benhamou Global Ventures.[6]

In April 2020, the company announced a $15 million Series B round to expand their passwordless authentication and remote-access security solutions for enterprises.[7][8] The new round brings the company's total funding to $22.5 million.[9]

Awards and recognition

Double Octopus was named a Gartner 'Cool Vendor' in 2016[10] and in 2017, Business Insider listed it on its "50 startups that will boom according to VCs".[11]

In 2021 the company was named "Best in Class" for enterprise passwordless authentication by the Aite Group[12]

References

  1. ^ Israel's Secret Double Octopus Raises $15 Million to Help Eliminate Passwords Israel Defense
  2. ^ "BGU spin-off Secret Double Octopus Raises $6M to Replace Passwords and SMS Verification". bgu.ac.il.
  3. ^ Kepes, Ben (2015-11-18). "Secret Double Octopus goes beyond encryption". Network World. Retrieved 2020-04-06.
  4. ^ "Privacy-Preserving_Secret_Shared_Computations_using_MapReduce_IEEE_TDSC".
  5. ^ Cybersecurity co Secret Double Octopus raises $15 m, Globes
  6. ^ Israel's SpaceIL One of Five Finalists in Global Race to the Moon, Haaretz
  7. ^ Israeli startup Secret Double Octopus raises $15 m. to help end passwords, Jerusalem Post
  8. ^ "Secret Double Octopus raises $15 million to authenticate employees without passwords". VentureBeat. 2020-04-28. Retrieved 2021-02-10.
  9. ^ Passwordless Authentication Start-up Raises $15 million, Calcalist
  10. ^ "Cool Vendors in Communications Service Provider Security Solutions, 2016". Gartner. Retrieved 2020-04-06.
  11. ^ Bort, Julie. "50 startups that will boom in 2018, according to VCs". Business Insider. Retrieved 2020-04-06.
  12. ^ Octopus, Secret Double. "Secret Double Octopus Named "Best in Class" for Enterprise Passwordless Authentication in New Aite Group Matrix Report". www.prnewswire.com (Press release). Retrieved 2021-06-27.


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