Toopher, a new startup created by a student and adjunct professor at the University of Texas at Austin, said today that it has raised $2.0M in a Series A funding, and has moved into the Austin Technology Incubator. The startup, started by Evan Grim, a Ph.D. student in software engineering, and adjunct professor Josh Alexander at UT's McCombs School of Business, has created a two-factor authentication product which uses a user's smartphone to help protect users against online fraud and identity theft.
Toopher said the funding came from Alsop Louie, a Silicon Valley venture capital firm, along with Dallas-based Stonehenge Growth Capital, Austin-based Corsa Ventures and other investors. Toopher's security technology uses smartphone apps for both iPhone and Android, and combines a user's location information to alert users to fraud, help companies secure their networks, and more. The developer also provides an extensive API for developers who'd like to use Toopher's authentication services as part of their own services.More information »