MONTEVIDEO, JULY 2021 - VU Inc, a leading identity protection and fraud prevention company in Latin America, announced the receipt of a US$12 million investment at the close of its Series B round. The round included existing partners Agrega Partners, NXTP Ventures and ArFintech, and new partners such as Globant, BID Lab, Telefónica, Redwood Ventures, Bridge One and Myelin Venture Capital.
Through this investment, Globant, one of the four Argentinean unicorns, strengthens its position on cybersecurity with a strategic initiative, partnering with an industry that has gained new relevance after the acceleration of the digital transformation forced by the pandemic.
"VU allows us to fully explore technology within secure digital environments and raise the level of trust in the products that are part of our lives. We have been working together for years and believe in the potential of VU's solutions to increase security and improve the end-user experience," said Guibert Englebienne, President for Globant Latam and co-founder of the company. "With this investment, Globant continues to foster the entrepreneurial ecosystem and support the growth of high-potential businesses.
According to a report published in March 2021 by Microsoft, 31% of companies surveyed in Latin America have received an increase in cyber attacks. This is because cyber attacks during the pandemic have increased considerably compared to previous years. For VU it is essential to train specialists in the field because there is an exponential demand for them, so much so that in the last 3 years it tripled its payroll and expects to double its team of experts by 2023, in an industry where there is a deficit of 3.5 million positions globally.
"We are proud to have the support of our partners as we consolidate our presence in Argentina, Latin America and Europe," said Sebastian Stranieri, CEO of VU Inc. "This investment will allow us to add talent to our teams. In the last year we have added operations in Cordoba, Santa Fe, Entre Rios, Neuquen and other parts of Argentina, with the goal of accelerating the development of new functionalities for our modular solutions and providing a better response to the market. Our purpose of improving the quality of life of citizens and organisations, building secure and frictionless digital experiences, is now shared with every organisation, which gives us a priority role in society," added Stranieri.
VU Inc, an Argentinean company with more than 13 years of experience and operations in 27 markets, focuses on the new concept of the "online persona", providing robust identity verification methods for its users, enabling a more holistic authentication paradigm. By combining traditional cybersecurity controls with geolocation, biometrics and machine learning-based user behaviour analysis, VU enables a seamless authentication process in which the user is viewed as a whole, rather than a set of credentials. Today, the company delivers secure and frictionless digital experiences to more than 350 million people worldwide.
About VU Inc. VU Inc. is a cybersecurity company focused on fraud prevention and identity protection. It provides robust citizen identity authentication solutions by combining traditional cybersecurity controls with geolocation, machine learning, identity document recognition and user behaviour analysis. Its modular systems include voice recognition, facial recognition and other authentication options. More than 170 customers in 27 countries in Latin America, Europe and the United States, including governments, banks and retail companies, integrate VU technology into their existing platforms to protect sensitive information. BofA Securities served as a financial advisor to VU.
For more information visit www.vusecurity.com
About Globant
It is a digitally native company that helps organisations reinvent themselves to create a path to the future and unleash their potential. It combines innovation, design and engineering to reach large scale.
Globant has more than 16,250 professionals and is present in 18 countries working for companies such as Google, Rockwell Automation, Electronic Arts and Santander, among others.
It was named a global leader in CX improvement services by the IDC MarketScape report and featured as a case study at Harvard, MIT and Stanford. She is currently a member of the Cybersecurity Tech Accord.
For more information visit www.globant.com
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