Cyber firm Callsign set to unveil bumper JP Morgan backing
Summary
London-based identity fraud firm Callsign is said to be on the verge of unveiling fresh funding worth tens of millions of dollars from Wall Street giant JP Morgan. Read More: JPMorgan Chase buys second building in Paris as it shifts teams from London The cash injection, which could be announced as early as this week, will reportedly move Callsign close to feted unicorn status — the term given to private businesses worth a billion dollars or more. The investment is expected to come from a private equity division that sits within the bank’s asset management arm and that has previously backed tech firms including Twitter, according to the report. Callsign, which was founded in 2012 by Zia Hayat, is one of a number of businesses cashing in on growing demand for authentication software amid a rise in cybercrime. One source told Sky News that Callsign had also held tentative discussions with Japanese investment giant Softbank, but talks had broken down over its valuation.
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