Yubico Adds New Round of Investment and Grows Board of Directors

August 28, 2019 2 minute read

Today, Yubico is excited to announce it has received a new round of investment led by Meritech Capital Partners, a top tier venture capital firm based in Palo Alto, CA.

Existing investors include the Silicon Valley-based leading VCs Andreessen Horowitz (a16z) and NEA, Swedish growth equity firm Bure, and renowned Silicon Valley entrepreneurs Marc Benioff, CEO & Founder of Salesforce, and Ram Shriram, Yubico Chairman and Google founding board member.

“Yubico has built an amazing company. We love the technology, the respect they have earned in the open standards community, and the enthusiasm from their customers. Beyond the efficient business and big market opportunity, Yubico presents a very special culture, unique in the security market. We are looking forward to working with Yubico to make their technology truly ubiquitous,” says Paul Madera, Managing Director, Meritech.

Yubico has been profitable the last seven years, attracting nine of the top ten internet brands and millions of users in 160 countries. With this investment, we have more fuel to continue accelerated growth, and we welcome Meritech and the new funds to scale operations across our entire organization.

In conjunction with the company backing of Meritech, Paul Madera, Managing Director, will be joining the Yubico board of directors.

Meritech is making an investment into the company of $25M for a company valuation of $600M. In addition, existing major investors are increasing their holdings, investing $15M in secondary shares, in connection with this round.

Share this article:

Recommended content

Accounting for the human element: A security tool that nobody wants to use is destined for the trash heap

To continue our effort to peel back the layers on the journey to passwordless, Yubico talked with former Navy intelligence officer and University of Tulsa professor, Sal Aurigemma, about his research in the behavioral information security field. Professor Aurigemma focuses on end-user experiences and adoption rates of authentication technologies. He regularly runs field experiments with ...

Cloud vs. On-Prem: Why opting for on-prem can cost you your next data breach

Most CISOs and IT teams spend their time asking themselves “when”, not “if”, they will be the next company to suffer a data breach. And rightfully so. The frequency of data breaches is skyrocketing, with no sign of slowing down.  To help quantify the problem, recent research from Canalys shows that there were more records ...

Find us at Oktane21 and discover how Okta and the YubiKey bridge enterprises to passwordless

Okta’s premier identity conference, Oktane21, is taking place virtually on April 6-8, and Yubico is once again a proud sponsor. This year, Yubico will highlight our continued partnership with Okta and showcase the YubiKey as the key to trust.  Okta Adaptive MFA and the phishing-resistant YubiKey allow organizations to quickly and securely deploy strong multi-factor ...

Yubico announces general availability of next-generation Android and iOS SDKs

Yubico is committed to enabling YubiKey integrations for all of our technology partners and enterprise customers with the least amount of friction and time-to-market as possible. With this goal in mind, we are very excited to announce the public general availability of our Android and iOS SDKs that went into public beta in December last ...