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SecureKey

Security & Identity | Toronto, ON | Founded: 2008 | Employees: 100 | www.securekey.com


PHONE: (855) 796-3386 | LINKEDIN PROFILEBLOOMBERG PROFILE 

Last updated January 21, 2019 | To download a PDF version, click here

 

Company Overview

SecureKey is an identity and authentication provider based in Toronto, Ontario. SecureKey allows for customers to use trusted credential providers (such as banks) to securely authenticate their identity to access online services.


Senior Management

Greg Wolfond: Founder, CEO and Chairman (2007-Present). Concurrently: CEO, Blue Sky Capital Corporation (1995-Present); Founder and Chairman, Kili Technology Corporation (2013 – Present). Previously: Founder and CEO, 724 Solutions (1997-2002); Founder and CEO, Footprint Software (1983-1995). Education: BA Computer Science, University of Western Ontario; BSc Biochemistry and Life Sciences (2003-2007), University of Toronto.

Jamie Shapiro: President and Board Member (2008-Present). Concurrently: President and Board Member, Blue Sky Capital Corporation (2002-Present). Previously: VP Corporate Development, 724 Solutions (1999-2002); Manager, A.T. Kearney (1994-1999). Education: BA Applied Math, Harvard University (1983-1987); MBA, The Wharton School (1992-1994).

Didier Serra: EVP Sales and Marketing (2015-Present). Previously: EVP Global Partnerships, SecureKey Technologies (2013-2015); Founder, General Manager and EVP Sales America, Inside Secure (2005-2013); Chip and Reader RFID Analog R&D Engineer, Gemplus (1993-1995). Education: M.Eng., Electrical, Electronics and Communications Engineering, Ecole supérieure de Chimie Physique Electronique de Lyon.


History

Greg Wolfond started SecureKey when his cousin and a friend both had mortgages put on their houses by people who impersonated them. Wolfwond saw an opportunity to create a more convenient and secure way of authenticating customers when they were signing up for a new account or service online. Wolfwond partnered with Canadian banks to launch SecureKey Concierge, a convenient way for citizens to use their online banking login to access government services online. SecureKey then built Connect.Gov, a similar platform for the United States Postal Service. As of September 2018, SecureKey is currently developing Verified.Me which will allow users to sign up for a wide variety of online services using their online banking credentials.

Funding

Since 2010 SecureKey has had nine funding rounds raising a total of $91.9 million. 2010: $850 000 in debt financing, $431 902 in venture series financing. 2011: an unknown amount of Series A investment from Intel Capital. 2012: $30 million in series B from Visa, TELUS ventures, Rogers ventures, MasterCard, Intel Capital, Discover Financial Services. 2014: $19 million of series C funding from TELUS ventures, Rogers ventures, and Blue Sky Capital.  2016: $27 million in venture series funding from TD Bank, Scotiabank, RBC venture partners, Desjardins Venture Capital, CIBC Capital Partners, BMO Capital Markets Corp. 2017: $800 000 grant from the United States government.


Key Corporate Developments

Press releases: https://securekey.com/press-releases
Feb 7, 2018: https://securekey.com/press-releases/sun-life
Mar 20, 2017: https://securekey.com/press-releases/ibm-securekey-technologies-deliver-blockchain-based-digital-identity-network-consumers
Nov 7, 2011: https://securekey.com/press-releases/securekey-technologies-inc-to-power-the-government-of-canadas-new-online-authentication-service

 

Business Highlights

Strategy

SecureKey bids on government contracts, partners with industry leaders and collaborates with technology providers to create a platform which attracts customers and online service providers:

  • Identity Verification – SecureKey leverages technology to deliver low-cost identify verification of customers to organizations who currently are spending thousands of dollars on call centers and security infrastructure to onboard customers and manage log in information.
  • Privacy and Security – SecureKey does not track customers and ensures that each organization in the ecosystem only receives the information which is required to set up an account. Through its partnership with financial institutions SecureKey protects customers private information against data breaches.


Products/Pricing

  1. SecureKey Concierge: SecureKey was awarded a government contract to develop SecureKey Concierge – a convenient, secure, and private way for citizens to use their online banking login to access government services online.[1]
  2. Gov: SecureKey has set up an identity verification system for the United States Postal Service[2]. The contract to set the system was reported to be $15 million.[3]
  3. Me: Verified.Me will allow users to sign up for a wide variety of online services using their online banking credentials. Verified.me will leverage IBM hyperledger blockchain technology to provide security and privacy. Fees (unknown amount) will be charged to the organizations who receive consumers data.

[1] https://securekey.com/press-releases/securekey-technologies-inc-to-power-the-government-of-canadas-new-online-authentication-service
[2] https://securekey.com/press-releases/securekey-powers-connect-gov-to-simplify-and-secure-access-to-online-services
[3] https://www.itworldcanada.com/article/torontos-securekey-lands-15-million-u-s-contract/84002


Technology

SecureKey leverages a variety of technologies to ensure that the identification authentication is efficient, secure, and private. The SecureKey Concierge service is cloud-based and relays identification credentials from trusted parties to organizations. The system uses authentication tokens, threat mitigation and cryptographic module validation.[4] SecureKey’s Verified.Me will leverage IBM’s hyperledger blockchain technology to provide security.

[4] https://2m6dvv3zi6nj31h9a91s1wdk-wpengine.netdna-ssl.com/wp-content/uploads/2015/09/SK-UN117-Trust-Framework-SecureKey-Concierge-Canada.pdf


Distribution/Logistics

SecureKey is growing an ecosystem to relay identification credentials from trusted parties (primarily banks) to other organizations. This connects the user to the new organization or service provider.


Marketing

SecureKey employees speak at leading privacy and tech conferences to reach employees of other organizations. SecureKey’s partnerships with large banks enables them to set up meetings with industry leaders and the public. When Canadian citizens file taxes or attempt to use one of the government services with SecureKey login.

 

Competitors

  1. Auth0 – (Bellevue, WA) Auth0 provides a platform for managing authentication and authorization platform for organizations with over 2000 customers in 70 countries.
  2. Microsoft’s Azure Multi-Factor Authentication – (Redmond, WA) Azure provides security for data with two step verification using log in credentials and devices.

 


Corporate Profile Created By: Tyler Dales, Ivey HBA