Nok Nok Labs raises $15 million from ONSET Ventures, Doll Capital

BOSTON (Reuters) - Nok Nok Labs, a Silicon Valley startup that is developing technology to help companies quickly validate the identities of their users over the Internet, said on Tuesday that it has raised $15 million in early financing from ONSET Ventures and Doll Capital Management.

The firm, which was founded in November 2011, is collaborating with companies including Ebay Inc's PayPal electronic payment division, PC maker Lenovo Group Ltd and semiconductor maker Infineon Technologies AG to establish standards to help businesses quickly authenticate a person's identity from mobile phones, PCs and any other device that is connected to the Web.

Nok Nok Labs Chief Executive Phil Dunkelberger told Reuters the company will sell software and equipment that businesses can use to implement those standards, allowing customers to authenticate large numbers of customers using methods including fingerprints, facial recognition and traditional passwords.

Dunkelberger is a software industry veteran whose most-recent job was as chief executive of PGP Corp, which he sold to Symantec Corp in 2010 for about $300 million.

Board members include Richard A. Clarke, the former White House anti-terrorism czar who is now CEO of cyber security consulting firm Good Harbor, and Michael Barrett, chief information security officer of PayPal.

(Reporting By Jim Finkle; Editing by Richard Pullin)

Source: http://news.yahoo.com/nok-nok-labs-raises-15-million-onset-ventures-130121114--sector.html

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