Yubico adds more investment from A16Z.
Yubico, a Stockholm and Palo Alto-based company providing authentication and encryption hardware, announced adding more investment in the company.
The backing comes from from Andreessen Horowitz (a16z), supporting Yubico’s mission to create a safer internet for everyone by providing ubiquitous secure access to computers, networks and servers. In addition to company backing, Martin Casado, general partner for a16z, will be joining the Yubico board of directors.
The financial details of the transaction remain undisclosed.
Yubico, founded in 2007 by Stina Ehrensvard and Mattias Danielsson, has developed new global standards for simple and secure access to computers, servers, and internet accounts. The company’s core invention, the YubiKey, delivers strong hardware protection, with a simple touch, across any number of IT systems and online services.
Yubico CEO and Founder Stina Ehrensvard worked with Martin Casado on the a16z Podcast episode ‘The State of Security’ from earlier this year to provide insight into the crossroads of software and hardware in the security space. Specifically, Stina spoke about the increasingly important role of authentication in a world where we hear of new data breaches and stolen user credentials on a daily basis.
Previous Yubico investors include NEA and renowned Silicon Valley entrepreneurs Marc Benioff, CEO of Salesforce, and Ram Shriram, Yubico Chairman and Google founding board member.