Mobile Identity pioneer TeleSign has entered into a strategic partnership with Australia-based Telstra.
“The TeleSign solution brings additional security to data and identity, enabling a safe and confident service experience. We are excited to be part of the journey as the company continues to expand globally,” Telstra Ventures Managing Director Matt Sherman said in a released statement.
TeleSign creates phone-based verification systems for online accounts. As part of the new deal with Telstra, the Australian company will invest an undisclosed sum in the security start-up and incorporate its TeleSign security protocol into its own mobile networks.
TeleSign’s technology is already in use in the banking, eCommerce and entertainment industries. The start-up closed a $40 million funding round in April of this year. According to TechCrunch, the new partnership will bring that Series B haul to around $49 million total.
“TeleSign has been very successful at making the internet a safer and more secure place by protecting businesses and users from fraud,” TeleSign’s CEO Steve Jillings said. “We’ve doubled revenue every year for the last four years and with a host of new products being readied for launch, we expect that growth to continue. The Telstra investment gives us additional resources to innovate even faster and continue our global expansion as we move toward our goal of an IPO.”
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