ROCHESTER, N.Y.--(BUSINESS WIRE)--Aug 3, 2023--
Token, a revolutionary provider of secure, wearable authentication solutions, today announced that the company has begun production of its smart ring in the United States. Demand for Token’s next-generation wearable authenticator that prevents phishing, ransomware, and cyberattacks has been overwhelming, with almost 200 organizations already committed and on the wait list for the world’s first multifactor authentication smart ring.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230803058819/en/
Token's next-generation Multifactor Authentication Smart Ring is an innovative biometric wearable that stops data breaches and ransomware caused by phishing attacks. For more details, go to www.tokenring.com. (Photo: Business Wire)
The incidence of successful cyberattacks is skyrocketing, with the latest Cost of a Data Breach Report from IBM uncovering that in 2022, 83 percent of organizations experienced two or more data breaches. John Horn, Director of Cybersecurity at leading analyst firm Datos Insights, stated, “As cyber risk continues to elevate, legacy MFA solutions are being defeated regularly by sophisticated phishing attacks. Many enterprises are left with heightened business risk and interruption, needing to move to phishing-resistant MFA solutions.”
Organizations looking for the most advanced protection against cybercrime must move away from legacy solutions and adopt next-generation tools that remove the human element from the login process. Relying on legacy solutions has created unrealistic and unfulfilled expectations that users will somehow recognize and overcome every new and sophisticated hacking attack they receive via emails, text messages, and malicious webpages. This is reflected in the soaring costs of the average data breach, which has now reached $9.4 million for U.S. companies.
“Starting production is a major milestone for Token, reflecting the hard work and dedication of a very talented team, and marking a critical step toward stopping the cyberattacks that are devastating so many businesses,” said Token CEO, John Gunn. “We are seeing incredible demand from the market, with a significant portion of our first production run already committed.”
Token has secured $43 million in funding and financing to deliver its game-changing multifactor authentication technology. The company’s innovative anti-phishing solution has already won six awards for its next-generation MFA solution that is easy-to-implement, passwordless, FIDO 2-compliant, and a biometric wearable that stops phishing attacks and data breaches. The ring easily integrates with all IAM solutions to provide a big leap forward in protection with minimal implementation effort.
About Token
In a world of stolen identities and compromised user credentials, Token is changing the way our customers secure their organizations by providing passwordless, biometric, multifactor authentication. We deliver the next generation of multifactor authentication that is invulnerable to social engineering, malware, and tampering for organizations where breaches, data loss, and ransomware must be prevented. To learn more, visit www.tokenring.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230803058819/en/
CONTACT: Dan Chmielewski
Madison Alexander PR
714-832-8716
949-231-2965
dchm@madisonalexanderpr.com
@MadAlexPR
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: SECURITY CONSUMER ELECTRONICS TECHNOLOGY SOFTWARE INTERNET HARDWARE
SOURCE: Token
Copyright Business Wire 2023.
PUB: 08/03/2023 11:36 AM/DISC: 08/03/2023 11:32 AM
http://www.businesswire.com/news/home/20230803058819/en
