Telstra has revealed plans to enhance security of customer accounts using two-factor authentication.
The telco's Ventures division today announced a strategic investment in TeleSign, a mobile identity company that provides two-factor authentication using codes delivered to a mobile device by SMS, app or voice call.
"We hope to be able to offer a range of mobile identity solutions from this innovative provider and we will work closely with TeleSign to explore opportunities to bring this technology to our own customers," said Telstra Ventures's managing director, Mark Sherman.
TeleSign CEO Steve Jillings said the Australian telco's investment "will allow us to work closely with Telstra, combining our expertise and their regional experience to better serve customer needs".
"The Telstra investment gives us additional resources to innovate even faster and continue our global expansion as we move toward our goal of an IPO," he added.
TeleSign recently closed a US$40 million Series B financing round. The company has 3.5 billion customer accounts in more than 200 countries. Clients include nine of the top 10 US Web properties and 20 of the top 25 globally.
No financial terms were disclosed.