What is Averon?
Averon specializes in digital identity verification technology designed to bolster user authentication for mobile consumers. Their product suite, featuring Magic Login and Seamless Multi-Factor Authentication (MFA), aims to deliver a secure and frictionless user experience by moving beyond traditional passwords and one-time codes. The company targets businesses seeking to elevate customer engagement and boost online revenue, offering device-agnostic solutions that require no software installation. Averon's core mission is to foster trust and accelerate mobile conversion rates through instant, pre-fillable authentication capabilities.
How much funding has Averon raised?
Averon has raised a total of $10.7M across 3 funding rounds:
Series A
$8.3M
Private Equity
$2.3M
Debt
$150K
Series A (2017): $8.3M with participation from 500.com, Kevin Mahaffey, Avalon Ventures, and Telefónica
Private Equity (2018): $2.3M, investors not publicly disclosed
Debt (2020): $150K supported by PPP
Key Investors in Averon
500.com
500.com Limited is a leading online sports lottery service provider in China, offering a comprehensive suite of lottery services and information. They were among the first companies approved to provide online lottery sales services in China.
Avalon Ventures
Avalon Ventures is a venture capital firm with over 30 years of experience, focusing on seed and early-stage companies in life sciences and information technology. They are known for supporting disruptive ideas and building strong relationships.
Telefónica
Telefónica is a global telecommunications company providing connectivity through fixed, mobile, and broadband networks, as well as subscription television services. Founded in 1924, it is headquartered in Madrid, Spain.
What's next for Averon?
The recent major strategic investment in Averon signals a pivotal growth phase, likely enabling the company to scale its operations, expand its market reach, and further develop its proprietary digital identity verification technologies. This capital infusion is expected to fuel advancements in frictionless authentication and multi-factor security solutions, positioning Averon to capture a larger share of the enterprise-level digital identity market. The company's focus on enhancing mobile customer engagement and online revenue through secure, passwordless authentication is poised to drive significant future expansion and innovation.
See full Averon company page
