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§ Private Profile · San Francisco, CA, USA
Technology company providing Direct Autonomous Authentication for secure, passwordless mobile identity verification in fintech and e-commerce.
Based in San Francisco, California, Averon was a cybersecurity software company that developed a mobile identity verification standard to enable passwordless login and secure online transactions using real-time mobile network signals and SIM chips. The enterprise software-as-a-service platform provided automated digital authentication for the financial services, e-commerce, and telecommunications sectors without requiring additional consumer applications or SMS passcodes. Before ceasing its corporate operations in October 2020, the business operated with fewer than fifty employees and secured fifteen international and domestic patents for its direct autonomous authentication technology. The enterprise raised $15.72 million in total venture funding across multiple rounds backed by notable investors including Avalon Ventures, Telefónica, John Chambers, and Salesforce founder Marc Benioff. Averon was originally established under the name Cloudwear and was officially founded in 2015 by Wendell Brown and Lea Tarnowski.
Averon has raised $20.0M across 2 funding rounds.
Averon has raised $20.0M in total across 2 funding rounds.
Averon has raised $20.0M in total across 2 funding rounds.
Averon's investors include Avalon Ventures, Marc Benioff, 7percent Ventures, B Capital Group, Firstminute Capital, Founder Collective, Goat Capital, Harrison Metal, L Catterton Growth, Lowercarbon Capital, Mosaic Ventures, Social Starts.
Averon was a San Francisco-based technology company specializing in digital identity verification for mobile and online security. It developed Direct Autonomous Authentication (DAA), a passwordless solution using real-time mobile network signals from SIM/eSIM chips to enable instant, frictionless user authentication without additional software or user effort.[1][2] Targeting sectors like financial services, e-commerce, and telecommunications, Averon served businesses aiming to reduce fraud, cart abandonment, and cybersecurity risks while boosting online revenues and transaction security.[1][2] The company raised $15.72M in funding but ceased operations in October 2020, marking it as a "dead" startup despite early promise.[1]
Founded in 2015 and formerly known as Cloudwear, Averon emerged from a need for seamless mobile authentication amid rising cyber threats.[1] Leadership included CEO and Chairman Wendell Brown, backed by a team of experts from MIT, Harvard Business School, Stanford, USC, Cornell, NSA, Israel Defense Force, PayPal, and Microsoft.[1] A pivotal moment came in July 2020 with an $8.3M Series A round led by Avalon Ventures, after operating quietly for nearly two years; this funded scaling of DAA, touted as the world's first fully automated mobile security platform live on all US carriers.[1] Early partnerships, like the 2019 global launch with tyntec for Europe, Asia Pacific, and Latin America, highlighted initial traction before shutdown.[2]
Averon rode the passwordless authentication trend in the mid-2010s, addressing surging mobile fraud amid e-commerce growth and data breaches, where traditional methods like SMS fell short due to SIM-swapping vulnerabilities.[1][2] Its timing aligned with carrier network advancements and regulatory pushes for stronger digital identity (e.g., PSD2 in Europe), positioning DAA as a carrier-native alternative to biometrics or tokens.[2] By influencing carrier partnerships and patenting signal-based auth, Averon contributed to the ecosystem's shift toward autonomous security, though its 2020 closure reflected funding challenges in a competitive field dominated by incumbents like Okta or Auth0.[1]
Averon's DAA pioneered signal-based auth but couldn't sustain post-2020 amid market consolidation. Its patents and tech likely live on through acquisitions or IP licensing, potentially fueling ongoing passwordless evolution. Trends like zero-trust security and 5G/eSIM proliferation could revive similar innovations, amplifying carrier-led verification in a post-password world—echoing Averon's mission to "help the digital world Be Authentic."[1]
Averon has raised $20.0M across 2 funding rounds. Most recently, it raised $12.0M Series A in March 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 1, 2018 | $12M Series A | Avalon Ventures, Marc Benioff | 7percent Ventures, B Capital Group, Firstminute Capital, Founder Collective, Goat Capital, Harrison Metal, L Catterton, Lowercarbon Capital, Mosaic Ventures, Social Starts, SV Angel, VantagePoint Capital Partners, Clark Landry, Mandeep Singh, Matt Mazzeo, TOM Blomfield | Announced |
| Oct 1, 2017 | $8M Series A | Avalon Ventures | Andreessen Horowitz, Founder Collective, Harrison Metal, Kleiner Perkins, Menlo Ventures, Monarch Collective, SNR, SV Angel, VantagePoint Capital Partners, Arash Ferdowsi | Announced |