Telstra has made a non-controlling equity investment in TeleSign, which will see it offer its customers the mobile security firm’s identity and protection solutions.
The telecommunications provider refused to comment on the value or stake percentage of the deal.
TeleSign, established in 2005, is a Californian developer of two-factor, phone-based verification tools for online accounts.
Its solution requires users to enter username and password credentials, and combine these with a one-time verification code sent via SMS, voice, or mobile application to access an account.
“The TeleSign solution brings additional security to data and identity, enabling a safe and confident service experience,” Telstra Ventures managing director, Mark Sherman, said.
According to a statement from Telstra, the telco is currently exploring means of delivering the technology to its customers.
TeleSign’s interest in Telstra is part of its Asia-Pacific growth strategy in which it intends to leverage the telco’s market share and customer relationships for growth.
The firm recently completed a Series B financing round where it raised $US40 million.
TeleSign chief executive officer (CEO), Steve Jillings, claims the company has doubled revenue in its last four financials years, and expects to maintain this growth rate as it looks at making its initial public offering (IPO).Read more: BYOD challenge lies in diversity of devices: BAE
Jillings said, “The investment will allow us to work closely with Telstra, combining our expertise and their regional experience to better serve customer needs.”
TeleSign currently operates in more than 200 countries, servicing 3.5 billion accounts.
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