Duo Security

Duo Security is the American startup which is engaged in technologies of information security support. The company develops and sells the tools helping business to protect online accounts of employees by means of two-factor authentication and the mechanism of a uniform input in corporate systems.

The platform developed by Duo Security allows to connect two-factor authentication for protection of the user accounts and services. The solution protects the organizations from date leak, providing only to legal users and the corresponding devices access to confidential data and applications at any time and in any place. The Duo Security platform is available to different operating systems and platforms, is integrated with a set of software (different VDI solutions, VPN solutions, Web services, cloud services, Windows, Unix of SSH, Radius, Shibboleth, etc.).

By the beginning of August, 2018 the number of staff of Duo Security totals about 700 people. Offices of the company are located to in Ann Arbor (State of Michigan) and London. The startup of Duo Security was founded in 2010 by Dag Song and Johnathan Oberkhayd.

History

2018: Cisco purchased Duo Security

On August 2, 2018 Cisco announced purchase of Duo Security for $2.35 billion. The transaction which is going to be closed within three months after the announcement will be paid with own means and also stocks of Cisco. The ratio is not specified.

This acquisition will allow us to give to clients an opportunity to connect any user with any device and the annex to any network — the executive vice president and the general manager of division of the information security (IS) of Cisco David Goeckeler said in a conversation of Fortune.

Cisco purchased software developer for safe authorization for 2.35 billion

The edition notes that the interest of Cisco in purchase of Duo Security is partly caused by desire to increase cybersecurity business which grows three times quicker than all revenue of the company. Besides, the transaction will promote transformation of Cisco within which the company gradually shifts focus from sales of network equipment for benefit of subscriptions for the software.

According to the founder and the CEO of Duo Security Dug Song, the company as a result of accession to Cisco will be able to expand a circle of clients as "Cisco in fact is present everywhere where there is a network". Will take a position of the general manager in Cisco.^[1]

2017: Business valuation in $1.17 billion

In October, 2017 Duo Security carried out a round of financing within which the company attracted $70 million investments and received business valuation in $1.17 billion. Then Cisco was among investors.

Notes

Trusted Access

Comprehensive security solution confirms the identity of users and health of their devices before they connect to your applications. Duo makes security painless, so you can focus on what’s important.