Alex Pezold, founder and CEO of TokenEx, a company based on cloud providers, announced that it had raised $100 million in its series B funding.
The company TokenEx states that this funding will be used to enhance its solution to secure digital transactions in the best possible manner.
Alex Pezold said that they are living in a digital world and it’s 2022, where cyber criminals are working at a fast pace. The rise in online and mobile transactions that occurred due to the pandemic of COVID-19 has created an urgent demand for safety and assurance of digital payments. To fulfill this demand, customers look ahead to their company, and TokenEx tries its best to provide the most assurable security for digital payments.
TokenEx works in an effective manner where it collects the data via API calls and before the data enters the internal system of an organization, it manages the data carefully. Afterwards, when data securely enters the organizational internal system, it converts that sensitive data into a protected file called tokens.
The company uses these tokens to send the protected file to the end point. The token is a totally safe file that provides assurance against cyber attacks of any kind, and at the same time, it increases freedom of control and interoperability for its customers.
TokenEx provides the safest place to secure data and prevent cyber attacks by ensuring that data is stored in a place where cyber criminals cannot identify and trace it. For this purpose, our company preferred storing data in a safe place rather than in on-site locations.
TokenEx provides a platform to its customers that enables them to tokenize any structured data. This day enables the organization to securely transmit and store data without fear of any risk arising from a data breach.
The organization is one of the fastest growing and developing platforms in the field of global tokenization. At present, the company is valued at $2.3 billion, and it is expected to raise its valuation to $5.6 billion in the foreseeable future, or nearly by 2026.
At present, more and more companies look ahead to tokenEx for providing security against data breaches and data theft.
At present, the company is facing tough competition from its competitors, including payment orchestration platform Spreedly. It is one of the most famous payment ecosystems where users are given the option to capture, store, and tokenize payments.
TokenEx is one of the leading companies and the greatest competitor of tokenEx, which has approximately $75 million in its most recent funding.
Apart from this, the other competitor of the company is very good security. Accompany collects and stores payment data for the customer and provides enhanced security. The Very Good Security Company also increased its investment to $60 million in its recent funding, providing tokenex with stiff competition.
TokenEx is a continuously growing company founded in 2010 by Alex Pezold, and with the capital inflows in this $100 million funding round, the company is looking ahead to expanding its business and providing more and more security to its customers.
TokenEx has always been a hard-working company that faces a lot of challenges but has emerged as one of the greatest security providers.