LONDON: Standard Chartered Plc's venture capital arm SC Ventures has made a strategic investment in Secret Double Octopus, a Tel Aviv-based startup providing authentication technology that removes the need for passwords, the companies said on Thursday.Secret Double Octopus, which already counts Sony Financial Ventures and Japanese telecoms provider KDDI as investors, said it will use the funding to grow the business.
"On average an enterprise user forgets his password three times a year," said Raz Rafaeli, co-founder and chief executive of Secret Double Octopus."The cost of password reset is US$25 dollars at a minimum."
Source: News Formal (newsformal.com)
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