Standard Chartered Bank’s Fintech Investment Unit Invests in Passwordless Authentication Provider Secret Double Octopus

Secret Double Octopus, a passwordless authentication provider, announced on Thursday it secured a strategic investment from Standard Chartered Bank’s fintech investment venture arm SC Ventures.

Founded in 2015, Secret Double Octopus describes itself as a passwordless authentication solution for the enterprise. The company states it “liberates” end-users and security teams from the burden of passwords with the simplicity and security of strong passwordless authentication.

“The Octopus Passwordless Enterprise™ technology provides a unified user experience and a consistent way to access workstations, remote services, cloud applications and on-prem systems while providing stronger protection against cyber-attacks.”

Speaking about the investment, Raz Rafaeli, Co-Founder and CEO of Secret Double Octopus, stated:

“We are incredibly excited to have an international financial giant like Standard Chartered join us as an investor and advisor. This partnership demonstrates the trust our technology has gained in global organizations of the largest scale. SC Ventures is a beacon of fintech innovation, and we look forward to many years of collaboration delivering passwordless capabilities to the enterprise world.”

Alex Manson, SC Ventures, added:

“We are thrilled to partner with Secret Double Octopus as they transform enterprise authentication standards, helping organizations like ourselves better manage their cybersecurity risks, while streamlining employee workflows. We look forward to supporting Secret Double Octopus in the next phase of its growth.”

Secret Double Octopus didn’t disclose the investment’s amount.

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