Lebanon Businessnews News

Startup Myki acquired
by US-based JumpCloud
Founders and management

to remain post-acquisition

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Myki, a provider of digital identity management solutions has been acquired by JumpCloud, a US-based global tech company which will also keep Myki’s team.

The company was founded in Beirut in 2016 by Antoine Jebara and Priscilla Sharuk. At its startup stage, it attracted investments by BECO Capital, a Dubai-based early stage venture capital fund, and BY Venture Partners (BYVP) (Yafi brothers and others). It had moved some of its operations to New York two years ago.

Myki had pioneered data protection through encrypted and decentralized identity management tools allowing users to consolidate and access their passwords safely in a single digital medium.

JumpCloud is a directory platform that centralizes the management of user identities and devices enabling small and medium-sized enterprises to adopt Zero Trust security models.

“We turn our know-how, engineering talent, and our technical expertise towards enhancing the JumpCloud platform to deliver superior security, ease of use, and value,” read a Myki blog post.

Myki had targeted consumers with a mobile application for password management and authentication that allows users to seamlessly and securely store and manage passwords, credit cards, ID cards, and secure notes. It allows users to log in to accounts using biometric authentication such as touch ID and face ID.

Myki had also developed an application for Teams that gives administrators full visibility and control over their company’s access management.

The company has web-based software for service providers which allows them to manage the passwords of their clients in a secure, streamlined and scalable manner.

These products will now be discontinued.

JumpCloud serves a global user base of more than 150,000 organizations, with more than 5,000 paying customers including Cars.com, GoFundMe, Grab, ClassPass, Uplight, Beyond Finance, and Foursquare.
Date Posted: Mar 02, 2022
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