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January 24, 2012

Finsphere Raises $11.3 Million from Investors for Company Growth

By Ed Silverstein, TMCnet Contributor

Finsphere Corporation has raised $11.3 million in a recent funding round led by Vodafone (News - Alert) Ventures. Also taking part in the round were current investors Mohr Davidow Ventures, Shasta Ventures and Frazier Technology Ventures.



The money will be used to expand the company’s identity security services and increase partnerships with carriers and other companies.  

"Through strategic relationships with mobile network operators and working with key industry partners, Finsphere enables wireless carriers to help protect their customers," Mike Buhrmann, CEO of Finsphere, said in a company statement.

"Finsphere provides a sophisticated analytics platform for the development of non-intrusive identity services to enhance privacy and protect information across all industry segments," Buhrmann added in the statement which was carried on TMCnet.

In a related matter, Tobin Ireland, who is group director of Commercial Development at Vodafone, was named to the Finsphere board of directors.

Via identity validation technology, Finsphere provides private solutions for financial services. These include authenticating debit or credit card transactions; opening of new accounts; online banking; mobile payments; access to business-sponsored events online; and personal information entered online. Finsphere provides solutions for businesses so wireless carriers can protect their customers’ identity and confidentiality.

In other recent company news, Buhrmann has been scheduled to give a keynote speech on Feb. 8 at “London Calling: A celebration of the special relationship between the tech communities in the UK and the Pacific Northwest.” In addition, the event will feature a panel including: Brian Esler, partner, Miller Nash LLP, David O’Neill, CEO of Viafo, Paul Cunnington, director, Startup Business Group, Microsoft (News - Alert), and Matthew Calamatta, technical consultant and communicator, Matchbox Mobile. The speech and panel discussion will be hosted by the British American Business Council of the Pacific Northwest. The event will take place in the City Hall of Bellevue, Wash.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO East 2012, taking place Jan. 31-Feb. 3 2012, in Miami, FL. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO registration click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.


Ed Silverstein is a TMCnet contributor. To read more of his articles, please visit his columnist page.

Edited by Rich Steeves
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