Nok Nok Labs, a provider of online authentication solutions, has raised $16.5 million of Series B financing from Lenovo Group and current investors DCM and ONSET Ventures. The company aims to enable end-to-end trust across the Web using authentication methods that are natural to end-users and provide strong proof of identity.
The new funding will accelerate the development and reach of the company's NNL S3 authentication suite, a centralized platform that will enable the use of several FIDO-ready devices. The company will also expand its sales, business development and marketing efforts. Nok Nok Labs previously received $15.35 million of Series A funding at a $35 million valuation in 2011.