Yubico scales up with new investors, expands across four continents

Today, I am happy to announce that new investors are joining Yubico’s mission to create a safer internet for everyone by securing all logins and secrets on servers.

$30M in combined new and secondary shares has been invested in the company. Our new investors include NEA, one of the largest and most active global venture capital firms, leading Swedish growth equity firm Bure, and young Silicon Valley-based venture capitalist The Valley Fund.

Today, half of the privately held company is owned by the Yubico founders and team members, and the remaining shares are evenly split across US and Swedish investors. Existing investors include renowned Silicon Valley entrepreneurs Marc Benioff, CEO of Salesforce, and Ram Shriram, Yubico Chairman and Google founding board member. All Yubico shareholders enjoy common shares and a democratic shareholder agreement. The combined total assets for all investors in Yubico exceeds $30 billion.

Since our start in Sweden in 2007 with modest funds of $4.5M from angel investors, we have grown organically into a global security leader with four consecutive years of profit. YubiKeys are the authenticator of choice for thousands of business customers and millions of users in 160 countries. As the Yubico team continues to grow, we take great pride in being a multinational and multicultural company. We are now established in four continents with employees in the US, Sweden, Germany, UK, Australia, and Singapore.

“With nine of the top ten internet companies as YubiKey users, Yubico has built a strong foundation as an innovator of new global authentication standards,” said Pete Sonsini, General Partner, NEA. “In a time when software does not offer sufficient protection for online accounts and sensitive data on servers, Yubico’s hardware backed keys are proven at scale.”

Funds from new investments will be used to expand the Yubico hardware platform beyond authentication to more advanced software, services, and use cases, including IoT and server encryption.