Boston Meridian is pleased to announce the $100m Series B investment in TokenEx by K1 Investment Management. TokenEx partners with its clients to secure their most sensitive data, typically cardholder data for card-not-present transactions. TokenEx collects data via API calls or managed file transfers before it enters an organization’s internal systems and then exchanges that sensitive data for nonsensitive data called tokens. These tokens can be sent to any API endpoint, creating a layer of abstraction that safeguards against cyber and ransomware attacks, while also increasing freedom, control, and interoperability for customers.
“TokenEx’s mission of protecting the world’s most sensitive data from theft is one that only grows more essential every day,” said Tarun Jain, Principal, K1 Investment Management. “As digital transactions become the preferred method of payment, we are excited by the value and utility of TokenEx’s platform to help process payments reliably and securely. We are thrilled to partner with the TokenEx team to capture this massive market opportunity.”
“We couldn’t be more excited to partner with K1 to continue our journey as the category leader in securing the world’s most sensitive data,” said Alex Pezold, Founder and CEO, TokenEx. “With the rise in data breaches, privacy regulations, and digital payment volumes, the need for our solution has increased exponentially this round of funding will allow us to take our technology to new heights and create a world-class experience for all our customers.”
Boston Meridian is an innovative investment bank that provides M&A and capital raising advisory services to leading technology companies. We leverage senior partner expertise to unlock the strategic value of technology and achieve rapid and unparalleled results for our clients.