The company, founded in 2012, has built an AI-based authentication platform, Intelligence Driven Authentication (IDA), to protect against the use of stolen credentials in hacks and data breaches.
“Several years ago, I realised that the way we identify ourselves online was very broken. I knew we needed to make existing solutions like multi-factor authentication and fraud analytics better by bringing them together,” said Zia Hayat, CEO of Callsign, adding that the funding will aid the growth of the company’s customer base, which includes Lloyds Bank and Deutsche Bank.
Callsign intends to open US offices in New York and the Bay Area to help with its global expansion, first in the US market.
On top of the investment, cybersecurity veteran and investor David DeWalt will be joining the board of directors as vice chairman, having previously served as president and CEO of McAfee and executive chairman of FireEye.
Accel partner, Harry Nelis; Allegis Capital managing director, Bob Ackerman; and PTB Ventures managing partner Dave Fields are also joining the board.