SF-based Startup, Averon has closed a deal of $8.3 million Series A financing round led by Avalon Ventures. Operated in silence for nearly two years, the company’s security solution takes the real-time mobile network signal from your phone and the SIM/eSIM chips to create authentication.
The company is led by a cadre of business leaders, engineers and cybersecurity experts with backgrounds spanning MIT, Harvard Business School, Stanford, USC, Cornell, the NSA, the Israel Defense Force, PayPal, Microsoft, and other top universities and institutions.
With existing solutions, users manually enter ID info on their device, use 2-factor authentications, and biometric info that is easily breached and prone to human error.
Your mobile carrier actually knows who you are, but so far packet device origination tracking (SIM) has been limited to carrier use and carriers themselves have been viewed as siloed networks. This solution breaks down the barriers.
The idea is to make the hacks involving Equifax, Target, HoAme Depot, Anthem Medicare, a thing of the past. Direct Autonomous Authentication (DAA), or a mobile identity verification standard that is both pretty frictionless and very secure.
The company started by seeking better ways to bring authenticity to security and soon found their experts gave rise to a revolutionary new solution: Direct Autonomous Authentication™ (DAA™).
DAA is claimed to be the world’s only fully automated mobile security platform. Our DAA™ technology requires zero effort by users and is live today on all US carriers. Join us in our mission to help the digital world
On the development, Wendell Brown, CEO and chairman of Averon said:
DAA has the potential to substantially reduce the exposure each of us has to the growing wave of cybercriminals.
Brown is an acclaimed computer scientist, entrepreneur, and inventor known for his innovations in telco and mobile security with 20 years of expertise in cryptosecurity and a U.S. Department of Defense security.
His co-founder is Lea Tarnowski, a former UK-based VC partner. Tarnowski was formerly an investment manager at Northzone Ventures, one of Europe’s leading global venture capital funds.
The company also claims to be the creator and holder of IP protected by 15 U.S. and international patents.