SaferPass from Bratislava, Slovakia, raised €1M in a seed round led by LRJ Capital and Neulogy Ventures. Both funds are Slovak as well, and the round was co-financed by international business angels. The money will be used to grow the product line for privacy, and to add new distribution channels.
Enigma cipher. Photo credit
SaferPass is a password management solution. The main goal of the product is to simplify and secure your online life. The product is a browser extension that follows users around as they navigate the web recording and auto-filling all login information. The user non-longer has to remember passwords for various accounts, but must remember one Master Password that SaferPass will never have access to so only the user can gain access to their sensitive account information. This information will sync across all browsers and devices using the highest levels of encryption AES - 256.Another useful feature is that you can log out and delete browsing history and cookies remotely. This could surely help to avoid some embarrassment if you used your work or friend’s computer and forgot to clean up 😉
(Interestingly, in SaferPass blog, I learnt that more than half of consumers are sharing up to 6 passwords with others, while 1/7 of employees would be OK selling their corporate password).
The founding team and majority of seed round investors come from the online security space. Many of them, including CEO and founder Doug Crowley, worked together at AVG and have been interested in ID / Password management space for many years. SaferPass team consists of 13 people, 8 of them are developers.
From time to time we hear about passwords leaks from major services, and Google wasn’t spared the headache, so we asked Doug Crowley how SaferPass could help to avoid such casualties: “SaferPass product can assist in 2 major ways from the myriad of online hacks revealing personal account information. Users are only required to remember 1 Master Password with our product so they can stop the dangerous practice of using the same password for all sites. SaferPass also provides users the option of auto-generating very difficult passwords that are virtually impossible to hack.”
The service is free, and the lifetime premium membership is on sale right now at the company’s website.
Cover image credit.
