Key issue to crack for FinTech, identity management, Financials can play a key role if they get it right!
As security breaches are reported for one major corporation after another, venture investors are writing bigger checks than ever in an attempt to buy some peace of mind. From Target’s data breach that put a damper on last year’s holiday season to Bebe’s payment card data breach reported last week, we’ve seen countless examples of access management gone wrong. It’s become apparent that the present identity management solutions are just not cutting it, and investors are fully aware. According to CrunchBase data, identity management startups have seen $350 million in venture dollars raised this year across 45 rounds — a big step up from last year’s $178 million raised over the same number of deals. Q2 saw a major investment push as some of the first massive deals in the space were recorded for startups like Okta, Centrify, and Dashlane.