If you’ve lost faith in passwords as a means of keeping your mobile and other devices safe from prying eyes, PassWear has introduced software for your wearables that can help keep your device secure as long as you are with it.
The PassWear app works on a range of smart watches, and uses two-step verification to secure any apps – from social media, to more demanding enterprise apps – ensuring no one can break into your accounts and steal data.
PassWear chose to use wearables as its security option because the market is growing fast. Additionally, it says that by 2020, 284 million devices and 1 billion employees will be using their personal device at work, meaning corporate mobile security is essential.
Clearly aimed at the enterprise, PassWear plans to sell its product through an annual subscription. It’s already available via Good Technology, but the company will be looking to add more distribution partners to its line-up in the future.
It is also offering a white label product and is working with Samsung to offer its software as a native app on its platforms. It hopes to set up more licensing agreements like this so a range if vendors can offer PassWear as a value-added service.
Finally, PassWear will be offering its SDK to app developers who can then integrate the highlights into their products and sell via freemium or paid-for apps in app stores.
PassWear is appealing for £175,000 in funding on Seedrs and it’s hoping to use the funds in order to turn trial users into paying customers, complete its Samsung commercial agreement and finish building the SDK for developers so it can start monetising that way.
In exchange for investment, PassWear is offering 14 per cent equity and at the time of writing, it had raised just shy of 10 per cent of its target.