Token, a startup provider of secure, wearable authentication solutions, has begun production of its smart ring in the U.S., the company said.
According to the Rochester, NY-based Token, the multi-factor authentication device helps prevent phishing, ransomware and cyberattacks. At this point, some 200 organizations have
committed to purchasing the smart ring and are on a wait list for it.
Biometric Wearable Technology
Token was short on details about the smart ring’s technology but did allow that it had won six awards for its next-generation MFA solution that is easy-to-implement, passwordless and FIDO 2-compliant. It is also a biometric wearable that stops phishing attacks and data breaches.
The ring easily integrates with all identity and access management solutions to provide a “big leap” forward in protection with minimal implementation effort, Token said.
Token’s chief executive John Gunn, commented on the production process:
“Starting production is a major milestone for Token, reflecting the hard work and dedication of a very talented team, and marking a critical step toward stopping the cyberattacks that are devastating so many businesses. We are seeing incredible demand from the market, with a significant portion of our first production run already committed.”
Funding Boost for Token
Token has secured $43 million in funding and financing to deliver its multifactor authentication technology. In June, the company received $13 million in Series B funding. Token said it will use the funding for product development and to boost its customer base.