What is Miracl?
MIRACL offers a sophisticated cloud-based platform designed for passwordless, multi-factor authentication (MFA) through its flagship product, MIRACL Trust. This innovative solution enables secure and rapid logins in as little as two seconds, eliminating the need for second devices or SMS verification. Primarily targeting businesses aiming to bolster their digital security and streamline user login processes, MIRACL effectively reduces helpdesk costs and enhances user satisfaction by achieving industry-leading login success rates. The platform's flexibility allows for deployment anywhere without requiring additional hardware, and its simplified pricing model makes it an accessible option for enterprises. MIRACL also places a strong emphasis on user privacy, enabling companies to authenticate users while safeguarding their personal information.
How much funding has Miracl raised?
Miracl has raised a total of $10.8M across 3 funding rounds:
Other Financing Round
$406K
Series A
$2.4M
Series B
$8M
Other Financing Round (2011): $406K with participation from Octopus Ventures
Series A (2011): $2.4M led by Pentech Ventures. and Octopus Investments
Series B (2014): $8M supported by Octopus Investments and NTT DOCOMO Ventures
Key Investors in Miracl
Octopus Investments
Octopus Investments is a UK-based investment firm specializing in tax-efficient solutions, including VCTs and inheritance tax products, catering to a diverse client base seeking financial planning and growth opportunities.
NTT DOCOMO Ventures
NTT DOCOMO Ventures is the venture capital arm of NTT DOCOMO, a major Japanese mobile operator, focusing on strategic investments in innovative technology companies.
Pentech Ventures
Pentech Ventures is an investment firm that provides capital to technology companies, likely focusing on early to growth-stage businesses with disruptive potential.
What's next for Miracl?
With the recent injection of major strategic investment, Miracl is poised for accelerated expansion and product development. The company's focus on passwordless authentication and MFA solutions addresses a critical need in the enterprise cybersecurity landscape. Future growth is likely to involve scaling its platform to accommodate a larger user base, enhancing its security features, and potentially forging new partnerships to broaden its market reach. The enterprise-level funding suggests a strategic push towards solidifying its position as a leader in secure and user-friendly login experiences, aiming to capture a larger share of the rapidly evolving digital identity market.
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