nextAuth @ infosecurity.be (from left to right: Roel Peeters, Jens Hermans – nextAuth; Frank Staut – Investlink)
Leuven, March 20, 2019 nextAuth NV closes its first investment round. The company develops highly secure mobile authentication solutions. Users no longer have to enter usernames or passwords, instead they simply confirm their login in an app with their fingerprint. KU Leuven and InvestLink became shareholders in this investment round. Along with the investment, the technology that was developed at COSIC, an imec research group at KU Leuven, was transferred to the company. The financing will be used for the further expansion of the spin-off and putting the technology on the market.
Thanks to nextAuth’s mobile authentication solution, obsolete security technologies such as passwords, whether or not supplemented with an OTP, or card readers are a thing of the past. nextAuth combines ease of use with thorough security. With the nextAuth technology, users can easily log in using a mobile app on their smartphone and a fingerprint or PIN. The smartphone thus becomes the key with which the user can securely log in anywhere.
nextAuth offers its customers the option of having their users log in in an intuitive and secure way, while maintaining their own branding to their users, without the intervention of an external party. The mobile app can be fully adapted to the wishes of the customer or even built into their existing mobile applications. This is for example the case for KU Leuven, where the nextAuth technology is used under the name “KU Leuven Authenticator” by more than 5000 staff members and students to log in on a daily basis to the central KU Leuven login.
With the investment from InvestLink, the new investment company of the founders of SecureLink, and their experience in IT security, nextAuth can fully seize the momentum in the market for user-friendly authentication solutions to become a major player on a global level.
“We are very pleased with the participation in nextAuth. Given our background, we are convinced that we can offer great value to this start-up. Together we can ensure that nextAuth grows into a major player in the authentication market, a market that is becoming increasingly important and where the right balance between security and ease of use is crucial. The technology from nextAuth certainly makes this combination possible, it is a very flexible technology that can be integrated with customers in various ways.”
“This new technology is the result of years of research into secure authentication in COSIC. The nextAuth technology shows that it is possible to translate cutting-edge technology into solutions that offer strong added value in the market.”