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§ Private Profile · 123 N Ashley St Ste 200, Ann Arbor, Michigan, 48104, United States
Cybersecurity solutions provider offering multi-factor authentication for enterprise customers, focused on secure logins.
Duo Security is an Ann Arbor, Michigan-based cybersecurity company that provides multi-factor authentication and secure access solutions through a software-as-a-service subscription model. The enterprise security platform mediates approximately half a billion user logins per month across various computers and mobile devices. The organization serves a broad client base of over 14,000 enterprise customers, including major technology and media corporations such as Facebook, Twitter, Yelp, and Paramount Pictures. Prior to its acquisition, the business demonstrated highly capital-efficient growth by reaching $100 million in annual recurring revenue while burning only $14 million in venture capital. Cisco acquired the company for $2.35 billion in 2018, at which point the operation had expanded to encompass more than 700 employees across several domestic and international hubs. Duo Security was founded in 2010 by Dug Song and Jon Oberheide.
Duo Security has raised $119.0M across 5 funding rounds.
Duo Security has raised $119.0M in total across 5 funding rounds.
Duo Security has raised $119.0M across 5 funding rounds. Most recently, it raised $70.0M Series D in October 2017.
Duo Security has raised $119.0M in total across 5 funding rounds.
Duo Security's investors include Lead Edge Capital, Meritech Capital Partners, Accel, Audrey Capital, Chemistry VC, FJ Labs, ICONIQ Capital, InterWest, Northzone, Openview Venture Partners, Peak, Silverton Partners.
Duo Security is a cybersecurity company specializing in zero-trust security solutions, particularly user-friendly multi-factor authentication (MFA) and access management tools. Founded in 2010, it built a cloud-based SaaS platform starting with push-based two-factor authentication (2FA), expanding to device health checks, single sign-on (SSO), mobile/endpoint security, and phishing simulations under the Duo Beyond suite[1][4][5]. Duo serves organizations worldwide across VSB, SMB, mid-market, enterprise, and channel segments in over 100 countries, protecting customers like Etsy, Facebook, and Yelp by making security simple and effective to prevent data breaches[2][4]. Its mission is to "democratize security" with an empathetic, hacker ethos, enabling trusted access for any user from any device[2][3][4]. Acquired by Cisco in 2018 for over $2.2 billion after reaching 50,000+ customers and $100M+ ARR, Duo demonstrated explosive growth through product expansion and sales model evolution[1][6].
Duo Security was founded in 2010 in Ann Arbor, Michigan, by security pioneers Dug Song (CEO) and Jon Oberheide (CTO), both experts from projects like OpenBSD, OpenSSH, and Arbor Networks[1][4][5][6]. Song's prior experience building infrastructure security for global carriers during the post-dot-com telecom downturn highlighted unsolved internet security gaps, inspiring a focus on accessible cybersecurity[6]. The duo targeted two-factor authentication—a proven but complex practice underserved by incumbents like RSA and IBM—leveraging mobile "push" notifications via smartphones to disrupt from the bottom up for mainstream adoption[1][4][5]. Early traction came from laser focus on core auth (avoiding distractions like identity or B2B2C), inside sales, and partnerships with Okta and Ping Identity, fueling 100%+ YoY growth and pivotal shifts to enterprise/channel sales and platform expansion[1].
Duo rode the mobile-first security wave and rising cyber threats in a post-Snowden era, timing MFA's shift from enterprise silos to cloud-native zero-trust amid remote work and breaches[1][4][6]. Market forces like SMB underserved by clunky legacy 2FA (e.g., hardware tokens) favored Duo's SaaS push model, capturing 10,000+ customers pre-acquisition and influencing partners like Okta[1][4]. As part of Cisco since 2018, Duo accelerates zero-trust adoption, challenging incumbents and elevating standards—its $2.2B exit validated accessible security platforms, shaping ecosystem focus on usability over complexity[1][4][6].
Post-Cisco integration, Duo will likely deepen zero-trust extensions like acquiring cloud identity providers to counter commoditization and rivals eyeing MFA[1]. Trends like AI-driven threats, quantum risks, and regulatory mandates (e.g., evolving GDPR/CCPA) will propel its platform, with emphasis on behavioral analytics and endpoint insights. Its influence may evolve toward enterprise dominance via Cisco's scale, prioritizing values like people-first innovation—echoing founders' ethos of solving real problems simply, as Duo transformed cybersecurity from elite to everyday[2][5][6].