# Tokenize

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tokenize

- Industry: IT Security/Cybersecurity
- Headquarters: Rochester, US
- Website: www.tokenring.com
- Total disclosed funding: $1.5M
- Latest round: Seed (Jun 18, 2015)
- Investors on record: 2

## About

Based in New York, Tokenize Inc. specializes in multifactor authentication solutions, offering secure, passwordless access through innovative devices like the Token MFA Smart Ring, designed for various sectors including finance and healthcare.Tokenize Inc. is a security technology firm focused on advanced authentication solutions. Founded in Rochester, US in 2014, it has engaged in five notable deals, with the most recent occurring on April 24, 2023, during which it raised USD 30 mn in VENTURE DEBT funding from Grand Oaks Capital. The company was established by Chester Taylor, Darius Afkhami, FIQKH ARDIANSYAH, Francesco Valagussa, and Safiul Mortoja, and is led by CEO Darius Afkhami. The total amount raised to date is USD 13 mn.Token Ring specializes in advanced multifactor authentication (MFA) solutions, primarily through its flagship product, the Token MFA Smart Ring. This innovative device employs biometric authentication and FIDO2 standards to deliver secure, passwordless access control. Utilizing a built-in fingerprint sensor, the Token Ring ensures that only authorized users can gain access, reducing the risks associated with traditional authentication methods such as passwords and OTPs. The product is designed for a diverse clientele, including financial institutions, healthcare organizations, and technology firms, among others, emphasizing a user-friendly experience that enhances security while minimizing operational disruptions. Token Ring products are marketed primarily in North America and Europe, targeting sectors where data security and user convenience are essential, such as finance and healthcare.Token Ring operates a revenue model centered around direct sales and partnerships with various enterprises seeking robust security solutions. Their revenue streams are generated through both B2B transactions and direct consumer sales, focusing on their signature Token MFA Smart Ring and complementary products like the Token BioStick. Each product may be offered through subscription plans or one-time purchases, allowing clients to tailor their security needs according to their operational requirements. The pricing structure is designed to provide scalable options for businesses of all sizes, ensuring accessibility to security technology.In April 2023, Tokenize Inc. raised USD 30 mn in VENTURE DEBT funding from Grand Oaks Capital. The company plans to utilize this funding to further develop its product offerings and expand its growth. Future initiatives include launching new advanced authentication devices aimed at enhancing security solutions across various sectors. Additionally, Tokenize Inc. is looking to penetrate new markets in Asia and South America by the end of 2024, aiming to bolster its presence in regions where cybersecurity demands are rapidly increasing.

## Funding rounds

- Seed, Jun 18, 2015, $1.5M — RRE Ventures, Future\Perfect Ventures

## Investors

- RRE Ventures (https://capitalatlas.ai/funds/rre-ventures) — Seed
- Future\Perfect Ventures (https://capitalatlas.ai/funds/future-perfect-ventures) — Seed