SOURCE: BioPassword

January 23, 2008 15:40 ET

BioPassword Sees Significant Momentum With Rising Demand for Secure Remote Access

Innovator in Strong Authentication Software Experiences Record Growth in Customers, ASP, and Licenses Sold

SEATTLE, WA--(Marketwire - January 23, 2008) - BioPassword, Inc., the leading innovator in strong authentication software, today announced significant momentum and record growth in 2007. Fueled by market-demand for an easy-to-use authentication solution in remote access and web applications, BioPassword saw 500 percent growth in its customer base in 2007, with a 100 percent increase in its Average Sale Price (ASP). The company also marked the year having sold over one million licenses for its industry validated multi-factor authentication software.

In today's always-on world, IT professionals are challenged with providing secure access anytime, anywhere, and must also support diverse computing and networking architectures for an ever-changing workforce. In fact, the global mobile workforce is expected to grow by more than 20 percent, with 878 million people working remotely by 2009, according to a study by IDC. At the same time, identity thieves are becoming more sophisticated and harder to combat, as 15 million people were victims of identity theft last year(1).

Given the evolution of attacks and the disappearing network perimeter, organizations must employ a more comprehensive, inclusive strategy for identifying legitimate users and protecting sensitive data. Consumers who use password-protected sites/services agree, as a recent Harris Interactive poll(2) found that 67 percent of adults prefer to use websites that employ multiple methods of identity verification and authentication by asking for more than just a password. BioPassword's innovative platform addresses this need for expanded authentication by combining something you know (a password) with something you are (a biometric) or something you have (for example, a mobile device) -- for secure access.

In conjunction with its impressive growth, BioPassword expanded its customer base in several vertical markets, including financial services, education, legal, manufacturing, health care, and state and local government. In addition to customer progress, in 2007 BioPassword forged new partnerships with Juniper Networks, Citrix, and Fiserv CBS Worldwide.

"BioPassword's exponential growth is a direct result of the industry's need for an accurate, easy-to-use and deploy solution that provides secure access for an ever-growing population of mobile users," said BioPassword CEO Mark Upson. "Our momentum will help us deliver on our aggressive strategy for broadening the capabilities of our platform and extending our technology leadership in the remote access and web application environments."

About BioPassword, Inc.

BioPassword, Inc. (www.biopassword.com), located in Issaquah, Washington, leads the market in providing award-winning strong authentication software for organizations seeking a solution that delivers high security with no change in user behavior at the lowest available cost. Unlike expensive authentication products which rely on hardware tokens or biometric readers, BioPassword uses a simple, yet powerful, combination of the user's standard logon credentials (user name and password), and applies keystroke biometrics (their unique typing rhythm) as a second authentication factor. In addition, BioPassword offers complementary software authentication factors such as knowledge-based authentication (user selected questions and answers) or software one-time passwords (single use password delivered to your mobile device) to create the only authentication solution that makes available -- something you know with something you are and something you have. BioPassword is accurate, secure, scalable to millions of users and immediately deployable across the enterprise and the Internet without impacting users. BioPassword is currently delivering strong authentication for organizations in a variety of industries, including: financial, healthcare, digital rights management, government, law enforcement, manufacturing, legal and automotive. To learn more about BioPassword visit our website or contact us at (425) 649-1100. For an online demonstration of BioPassword's keystroke biometrics, log onto www.biopassword.com/demo1.

About Harris Interactive®

Harris Interactive is the 13th largest and one of the fastest growing market research firms in the world. The company provides innovative research, insights and strategic advice to help its clients make more confident decisions which lead to measurable and enduring improvements in performance. Harris Interactive is widely known for The Harris Poll, one of the longest running, independent opinion polls and for pioneering online market research methods. The company has built what it believes to be the world's largest panel of survey respondents, the Harris Poll Online. Harris Interactive serves clients worldwide through its North American, European and Asian offices, and through a global network of independent market research firms. More information about Harris Interactive may be obtained at www.harrispollonline.com. To become a member of the Harris Poll Online and be invited to participate in online surveys, register at www.harrispollonline.com.

BioPassword® is a registered trademark of BioPassword, Inc. All other trademarks and registered trademarks are the property of their respective owners.

(1) Identity Theft Resource Center, http://www.idtheftcenter.org

(2) This study was conducted online by Harris Interactive on behalf of BioPassword, Inc. between November 29 and December 3, 2007 among 2,949 U.S. adults ages 18+, of whom 2,703 use password-protected websites or services. No estimates of theoretical sampling error can be calculated; a full methodology is available.