TeleSign raises $40 million in funding
TeleSign is a company that provides authentication services of mobile phones. TeleSign has raised $40 million in Series B funding led by Adams Street Partners. March Capital Partners and existing investor Summit Partners are also participating in this round.
This round of funding will be used to invest in TeleSign’s global growth strategy and for an aggressive hiring strategy for the company’s product development and engineering teams.
TeleSign pioneered “Mobile Identity,” a platform that verifies users by associating a valid phone number with every user account. TeleSign is used to maintain the integrity of their ecosystems by detecting suspicious users before account creation and protecting existing users from account compromise.
“Our goal is to make the internet a safer place by protecting digital businesses and users from fraud,” stated TeleSign CEO, Steve Jillings. “TeleSign is already successful and profitable. We’ve grown from 12 to more than 200 employees and doubled revenue every year for the last 4 years and we expect that growth to continue. This capital gives us additional resources to expand quickly and strategically into new markets, innovate rapidly, and move toward our goal of a public offering.”
TeleSign is used for protecting 3.5 billion accounts in over 200 countries. TeleSign provides services to more than 500 clients, including 9 of the top 10 U.S. web properties and 19 of the top 25 globally.