InnovationQuarter’s Additional Funding for Authasas Makes Growth Ambition Possible

19 Mar 2015
Author: HSD Foundation

The Hague, March 19th 2015 – Today at the HSD Campus, deputy mayor Ingrid Van Engelshoven (The Hague) announced the latest investment of development agency InnovationQuarter in Authasas. Investing in this software-developer from The Hague, focused on providing strong authentication, is the first involvement of InnovationQuarter in the topsector Safety & Security.  With this capital injection, Authasas expects to reach its growth ambitions more quickly. 

World-Class Authentication
Strong authentication ensures that only the right people, with the right privileges, have access to a for example networks, mail servers, and laptops. The best known example is the debit card, which can only be used in combination with a password or PIN for identification in order to make a payment. 

Authasas develops strong authentication software with the focus on security, usability, and manageability. By using for example one-time passwords, authentication methods as biometrics, smart cards, and mobile authentication methods  (including SMS tokens) can be used together in one central location. This integrated approach is an appropriate solution for identity verification in a time in which using a user name and passport alone is no longer sufficient.

"In recent years, Authasas has laid a solid foundation for achieving a dominant position in the strong authentication market", says founder and CEO Reinier van der Drift. "With the support from InnovationQuarter and by cooperating within the national security cluster The Hague Security Delta (HSD), we are now able to accelerate our international growth and to further strengthen the Authasas team.”

Investing in Safety & Security
With its participation fund, InnovationQuarter offers venture capital to  innovative (re)starting SMEs and promising, young technology businesses in Zuid Holland to bring their innovations to the market.

"Innovation Quarter is very pleased with this investment in Authasas as our first investment in the Safety & Security sector," says Francis Griep-Quint, Head of InnovationQuarter Capital. “Authasas perfectly fits our investment focus. They use advanced security technology and have a solid international network as well as engaging customers. With promising businesses like Authasas, HSD strengthens its position as the main security cluster in Zuid-Holland, the Netherlands, and Europe.”

Deputy Mayor Van Engelshoven symbolically ratified the investment by handing a plaque to Reinier van der Drift. Van Engelshoven is very exited about the investment: “Cooperation taking place within HSD is a unique way to develop innovations in the field of security, leading to more jobs and a more secure world. It is good to see that businesses from the security sector can grow with an investment from InnovationQuarter.”