Axiad Holdings Raises $20 Million From Invictus Growth Partners to Accelerate the Future of Passwordless Authentication

SANTA CLARA, Calif., Jan. 25, 2021 /PRNewswire/ -- Axiad Holdings, Inc. ("Axiad"), a leading cloud-based passwordless authentication platform, announced today that it has raised its first outside financing with a $20 million growth round from Invictus Growth Partners ("Invictus"). The proceeds of the financing will be used to accelerate sales, marketing and development of its cutting edge multi-factor authentication platform, which protects more than 2.5 million enterprise credentials for hundreds of global customers. Invictus Co-founders and Managing Partners, John DeLoche and William Nettles, will join Axiad's board.

"We have been bootstrapped and cash flow positive for more than 10 years, so taking outside capital was a big decision," said Yves Audebert, Co-founder and Co-CEO of Axiad. "Invictus proved to be the right partner for us, bringing not only capital but also a deep operating bench and a network to help us scale faster. We are excited to have them as partners as we continue to accelerate our vision of providing enterprises with a policy-driven, automated passwordless experience, without compromising on security."

"At a time when secure digital interactions are more important than ever, Axiad's innovative platform addresses the pain points enterprises face with adopting and managing multiple credentials, providing a seamless experience for all users and use cases. We are honored to partner with Axiad on their mission to become the standard for passwordless authentication," said John DeLoche, Co-founder and Managing Partner at Invictus.

Axiad enables the most secure and simple passwordless experience for any authentication method adopted within the enterprise, including biometrics, PKI, Mobile MFA, YubiKeys, TPM, smart cards, and others. Axiad's cloud platform manages every credential's lifecycle holistically in one place, providing a cohesive experience for the business and its users, including privileged and non-privileged users. Axiad secures all digital interactions for both users and machines no matter where they are, a necessity for enterprises as the traditional security perimeters disappear. Axiad's platform adapts to enterprises' evolving security needs, accelerating and simplifying the path towards passwordless.

"The Invictus team brings unique machine learning and other operating expertise which will be invaluable as we continue to innovate best-in-class identity platforms to meet our customers' needs. We are grateful to have them in our corner," said Bassam Al-Khalidi, Co-Founder and Co-CEO of Axiad.

"Axiad has been a leader in multi-factor authentication and credential management for more than a decade and their platform protects many of the world's leading enterprise, financial services, healthcare and government customers. We are thrilled to partner with them on their mission," said William Nettles, Co-founder and Managing Partner of Invictus.

About Axiad Axiad is a trusted identity cloud platform provider for global enterprises and government organizations. Axiad was founded by industry experts with extensive backgrounds in developing, deploying, and managing identity and access management solutions. Axiad was founded in 2010 and is headquartered in Santa Clara, CA.

About Invictus Growth Partners Invictus Growth Partners is a growth equity and buyout firm which invests in bootstrapped and capital efficient, automation-enabled cloud software, cybersecurity and fintech companies which seek capital and strategic resources to accelerate their growth. The firm and all of their professionals are based in San Francisco, CA.

Media Contact:

Harpreet Mangat, hmangat@axiad.com, 408-941-5130

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SOURCE Axiad Holdings