SINGAPORE, 19 March 2024 – Accredify, a multi-award-winning verifiable technology solutions provider, today announced that it has secured a strategic investment from Okta Ventures as part of its Series A extension. Accredify is the first start-up headquartered in Singapore that Okta Ventures has invested in. The investment follows the company’s USD$7 million financing in April 2023 co-led by iGlobe Partners and SIG Venture Capital, with participation from returning investors, Pavilion Capital and Qualgro.
Okta is the world’s leading independent identity management platform. The firm’s investment arm, Okta Ventures, contains a large portfolio of companies who have developed innovative products and services related to digital identity. Accredify specializes in enabling firms to create, issue, and manage tamper-proof verifiable credentials.
Accredify will be integrating Okta’s digital identity management solutions such as SSO and MFA into the company’s product for its clientele to benefit from.
“In an era where digital trust is being eroded due to the rise of deepfake and generative AI applications that are being used by malicious actors and fraud syndicates worldwide, verifiable digital identity has become a must-have for organisations to retain their brand reputation and ensure the security of online transactions and information exchange,” said Quah Zheng Wei, CEO and Co-founder of Accredify, “We’re excited to be partnering with Okta Ventures to bring Accredify’s verifiable technology to every corner of the globe and to realise our vision of the next stage in mankind’s path to digitalisation – the adoption of verifiable data and identities to rebuild digital trust for all.”
Okta’s