US Capital Engaged as Exclusive Adviser on $10MM Preferred Equity Raise for Device Authority Limited
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San Francisco-based private financial group supports the growth of innovative security automation company for the rapidly expanding Internet of Things (IoT).
SAN FRANCISCO, OCTOBER 2017 – US Capital has been engaged by Device Authority Limited (“Device Authority”) as its exclusive financial adviser for a $10 million Class A-1 preferred equity raise for the firm. Device Authority will use the new financing for pre-sales and sales coverage expansion, marketing, product R&D, and working capital.
US Capital is a full-service private financial group headquartered in San Francisco. Through its investment bank affiliate, US Capital Global Securities, LLC, the firm provides private placement services and has wide distribution for debt and equity private placements.
Incorporated in England and Wales, Device Authority provides solutions to address the challenges of identity and access management for the Internet of Things (IoT) without human intervention. The IoT is a new interconnection of technology heralded as the next industrial revolution. Device Authority’s KeyScaler™ platform, built exclusively for the IoT, delivers IoT security automation at scale.
Darron Antill, CEO at Device Authority, commented: “We approached the US Capital team to support us with capital formation for the next phase of our business expansion. We are extremely pleased with the team and look forward to meeting strategic investors and other potential partners.”
“We are extremely pleased to be assisting Device Authority with its business financing needs in a strategic role,” said Jeffrey Sweeney, Chairman and CEO at US Capital. “More than half of new businesses are expected to run on the IoT by 2020. The IoT is still in its infancy, though, and one of its most significant issues is security. Device Authority aims to be a global leader in this field. The opportunity to participate in Device Authority’s $10 million preferred equity raise is now open to eligible investors.”
About Device Authority Limited
Device Authority is a provider of identity and access management for the Internet of Things (IoT). Its KeyScaler™ platform provides trust for IoT devices and the IoT ecosystem, to address the challenges of securing the IoT. KeyScaler™ uses breakthrough technology, including patented Dynamic Device Key Generation and PKI Signature+ that delivers simplicity and trust to IoT devices. With offices in Fremont, California and Bracknell, UK, Device Authority partners with the leading IoT ecosystem providers, including Amazon Web Services, Dell, DigiCert, Intel, PTC, and Symantec.
About US Capital
Since 1998, the US Capital team. has been committed to providing small and lower middle market businesses and investors with sophisticated debt, equity, and investment opportunities usually available only to larger middle market companies and institutional investors. The firm manages direct investment funds and provides wealth management and M&A services. Operating with its registered broker dealer affiliate, US Capital Global Securities, LLC, the firm acts as a licensed placement agent, and collaborates closely with its peers in professional banking and investment advisory.