TeleSign Gets $40M

Los Angeles-based TeleSign, the developer of security and identification technology headed by serial entrepreneur Steve Jillings, has raised $40M in a Series B funding round, the company announced this morning. According to the company, the funding was led by Adams Street Partners, and also included March Capital Partners and Summit Partners. TeleSign said that it will use the funds for its growth strategy, as well as "aggressive" hiring of its product development and engineering teams. TeleSign's services are used for two-factor authentication and other phone-based security efforts for many major websites and services. Those services are used to detect suspicious users before they create an account, and also used to help prevent existing users from compromised accounts. In announcing the funding, TeleSign said it is already profitable, and now has more than 200 employees, having doubled its revenues every year for the last four years. More information »