PMV invests in TrustBuilder – expert in user authentication for companies
The Belgian scale-up TrustBuilder raises € 1.1 million in funding from do and dare company PMV. With this new financial injection, TrustBuilder will further develop its product line and expand its sales and marketing activities to sustain European and international growth.
TrustBuilder Corporation is an Identity and Access Management (IAM) software vendor. In other words, the company offers solutions that enable companies to make user authentication as simple and secure as possible. To this end, it created its own identity management software, after which the company was named.
TrustBuilder has a loyal customer portfolio and is particularly strongly represented in the banking and insurance sectors (ING, KBC, Argenta, DKV, Allianz). It also provides services to public institutions (Flanders State of the Art, Ctie, Bpost, Belgian Rail), industrials (Daikin, Bosch) and others such as SD Worx, Healthix, Eurocontrol,…
As an innovation leader in the IAM market, it helps organizations develop their digital ecosystems by securing their clients' interactions with integrated in-house applications, partner applications and third-party applications. TrustBuilder's software has very advanced access control features, such as a flexible policy-based orchestration engine, attribute-based access control (ABAC), adaptive security and passwordless and biometric authentication.
TrustBuilder wants to distinguish itself from its competitors by its digital agility and connectivity with local digital ecosystems. Measured to the criteria of a renowned international research firm, TrustBuilder scores better than its competitors when it comes to authentication, application support and ecosystem connectivity.
TrustBuilder is convinced that thanks to these credentials, among other things, it can compete against major international competitors such as an Okta, Forgerock or IBM. CEO Frank Hamerlinck of TrustBuilder explains: "Management of identities and access rights within IT is becoming increasingly complex. Applications and data are moving to the cloud where different parties - including third parties - need to have access via different devices. Many organizations are faced with a mix of systems and procedures, where we come up with a solution that oversees the various systems and forms a single gateway to all applications within an organization. In contrast to multinationals, a company like TrustBuilder has to work in an agile manner within the digital ecosystems".
TrustBuilder expects to accelerate its international growth thanks to their new platform TrustBuilder.io. This platform is attuned to the soft- and hardware of different suppliers, allowing them to offer very product-flexible solutions. With the software, customers can add interesting and revenue-generating services to their digital offering in a fast, simple, safe and, above all, user-friendly way.
TrustBuilder is already able to present several great achievements nationally. Now, with the additional financing secured, it wants to gain a foothold in Europe.
"For a company like TrustBuilder, international expansion is a necessity for sustained growth. We are therefore pleased that PMV can provide TrustBuilder with the necessary funds to help build this ambitious story," says Roald Borré, Head of Equity Investments at PMV.
About PMV (www.pmv.eu)
An operationally-independent company, PMV is helping shape the future of the Flemish economy. PMV finances promising companies from the very start, up to and including steady growth and internationalization. PMV offers tailored financial solutions to all entrepreneurs with a good business plan and a strong management team. It does so with capital, loans and guarantees. In addition, it realizes projects with and for the government and other partners that are key to prosperity and well-being in Flanders. PMV has a project portfolio with 1.2 billion euros under management.