MultiFactor Raises $3.0 Million in Private Placement

MultiFactor Corporation Raises Additional $3.0 Million in Private Placement Financing to Fuel Growth

Irvine, California Private Placement –(Business Wire)–

MultiFactor Corporation, a provider of single sign on (“SSO”) and cloud authentication solutions, recently completed a $3.0 million private placement. The latest round brings total funds raised to date to approximately $11.0 million in private placements.

“As virtualization, cloud computing, and mobility drive corporate assets beyond the firewall, the ability to deliver consistent access and ensure the integrity of identities has become mission-critical,” said the CEO of MultiFactor Corporation. “As companies scramble to cope with cloud computing, SaaS and on-demand mobile applications, they’ve increasingly turned to MultiFactor to provide them with simple, unified SSO and identity-enforcement solutions.”

Despite the punishing economic climate, the company has experienced over eight quarters of solid growth. With this capital infusion, MultiFactor plans to grow sales and distributin in order to meet increasing demand.

About MultiFactor Corporation

Founded in 2005, Irvine, CA (News – Alert)-based MultiFactor Corporation designs and develops user SSO and authentication solutions for enterprises facing challenging access and identity enforcement scenarios. MultiFactor’s flagship product, SecureAuth, is a highly secure and elegant set of authentication products that provide secure, efficient and seamless access management for corporate networks, Internet resources and the cloud. The SecureAuth product line can easily be implemented into enterprise systems at the native level without changing current applications and impacting existing environments, thus making it a more cost effective and practical solution. For more information, please visit: www.multifa.com.
http://www.tmcnet.com/usubmit/2010/06/24/4867445.htm

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