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EncryptaKey

Product Name

EncryptaKey

Market Segment

Consumer Devices

Funding

Privately held, early stage.

Competitors

No Direct Competitors. RSA, SanDisk, Privaris, MXI Security and Kanguru offer devices with a subset of the EncryptaKey functionality.

Product Description

EncryptaKey’s patent-pending solution is the first to focus on the end-user as the foundation for secure business and consumer information exchange. The EncryptaKey Solution is comprised of a user device, server software, and software agents. These three components, supported by security and application layers, are the foundation of a communication platform designed to support secure business and consumer online and in-person applications, such as physical network access, data transfer and retail point of sale transactions.

Market Opportunity

According to IDC, the global mobile workforce will reach 878 million in 2009, growing 20% per year (the U.S. will reach 113 million). DataMonitor estimates that the total market for identity management (IDm) products and services is set to grow from 2003 revenues of $4.3 billion to reach $6.2 billion by 2007 at a CAGR of 9.9%.

Demo Says

EncryptaKey is not the first “desktop on a USB key” to make its debut at DEMO, but it may be the most flexible in the long run. The secure key embeds multi-layer authentication into the device and a rich application layer that starts with desktop access, then extends in a variety of directions to provide new capabilities in this type of device. We’re especially intrigued by the smart wallet applications that EncryptaKey has made secure and simple.