Copy of My1Login Press Release (Sept 2016)
Gareth Williams, CEO and co-founder of Edinburgh-based Skyscanner, has taken an undisclosed stake in My1Login, a European leader in Identity and Access Management solutions. Skyscanner is one of only two tech companies in Scotland valued at over $1bn.
The news comes hot on the heels of the recent announcement of a further funding round for Glasgow-based My1Login which recently raised £1.3m from a consortium of private and public sector investors.
Gareth Williams said: “It’s been fantastic to see My1Login grow and gain so much traction with large enterprise customers. I can see the same passion and dedication in the guys at My1Login that I saw in my own team. My1Login are perfectly placed to be the European leader in Identity and Access Management and I’m excited to be involved in the next stage of their growth”.
Mike Newman, CEO of My1Login commented: “I have long admired Skyscanner as a company and Gareth as a role model for building a hugely-successful global technology business. We feel honoured to attract investment from the co-founder of one of Scotland’s unicorn companies. As a global technology leader, Gareth’s support of our growth validates our market-leading Single Sign-On solution that eradicates passwords, improves employee productivity and eliminates the risk of data breaches.
My1Login also announced recently that Scottish Water Business Stream has become a major enterprise customer. In addition, Salesforce – the global leader in CRM software – has become a strategic partner of My1Login.
Over 1,000 companies rely on My1Login to secure access to their data. It provides next generation Identity and Access Management (IAM) solutions for Enterprise and eliminates the need for passwords in business by providing Single Sign-On that works with all applications, across all devices. The service works with cloud, mobile and legacy desktop applications, which enables them to fully address Single Sign-On challenges even in the most complex of enterprise environments where apps are often a mix of cloud, mobile and legacy systems such as mainframes.
The HM Government Information Security Breaches Survey found that the average cost of a data breach to a large UK organisation was £2.3m. It also found that 90% of large UK businesses suffered a data breach last year with Verizon finding that 65% of the causes of data breach were as a result of weak employee password practices. My1Login eliminates this risk with its Identity and Access Management solutions.